Spiralling costs put new Pool stadium in doubt

JUST how long Liverpool can continue their desperate search for more investment before being forced to abandon their new stadium scheme is now an open debate on Merseyside.

Chief executive Rick Parry's trip to Boston for talks with tycoon Robert Kraft does little to suggest the Stanley Park scheme is not in serious trouble.

The club board accept the only way the new stadium will be built is if there is significant outside investment.

And apart from Chelsea and Roman Abramovich, where have clubs found significant cash injections in recent years? Arsenal received big money from Emirates Airlines for their new stadium and Manchester United have been bought out and saddled with debt, but neither can compete with Chelsea. Nor can Liverpool.

Four years ago, when the plans were announced, the costs were £80m. As planning applications, talks with local council and government agencies crawled, costs jumped to £110m, then £150m. Now talk is of £200m.

Last week's board meeting will have considered the scheme's future and funding. The costs are so high, the club just does not have the money or means of acquiring it from the recognised sources.

There has been talk of killing the scheme and redeveloping Anfield to bring it to the 60,000 capacity.

So Parry's trip to see the New England Patriots at the Kraft family's invitation looks like a desperate attempt to come up with something before the AGM at the turn of the year.

Parry played down his visit, saying one reason was to see how the Patriots' privately-funded stadium worked.

He said: "It also gave us the opportunity to discuss at length the way in which they had funded the construction of the ground."

Whether they had to find £200m remains to be seen. Even Liverpool's third-largest shareholder Steve Morgan baulked at the costs when he scrutinised the club's books a year ago. He agreed a deal in principle to buy out chairman David Moores. That bid floundered on the stadium costs.

Liverpool have not been helped by the ground share issue with Everton, and the council's desire to have a hand in a venue to use for Liverpool's year as the European Capital of Culture in 2008. It is felt from inside Anfield that had Liverpool opted to buy up a piece of disused land in Speke, they would be playing in a new stadium by now.

But to move away from their roots was unpalatable. And these huge delays have cost them dear. Very dear.

This leaves Moores facing the same problems he has contended with at the last two AGMs. Winning the European Cup was a wonderful achievement, but it does not solve age-old problems. If the Kraft family did want to buy a stake, or even the whole club, they would have to buy out Moores. He owns 18,000 of the club's 35,000 shares and Liverpool is valued at between £110m and £140m.

Getting rid of Moores would cost upwards of £80m. Then the stadium has to be funded and boss Rafael Benitez given transfer funds. So a buyer is looking at £350m minimum.

Shopping complexes, casinos, a shared stadium and hotels have been mentioned. But at what cost to Liverpool's heritage? Shades of the uproar from Man United fans over Malcolm Glazer are obvious, and dare Moores and Parry go down that route?