John W Henry, Liverpool's principal owner, has said there will be no repeat of the stalled stadium projects of Tom Hicks and George Gillett because Fenway Sports Group has the financial backing to redevelop Anfield.
Liverpool announced last October that plans for a new stadium on Stanley Park had been scrapped in favour of refurbishing the club's historic home into a 60,000-capacity stadium, costing approximately £154m. Henry insists "good progress" has been made by Liverpool city council in purchasing the few remaining privately owned properties around Anfield, although a planning application will be submitted only once those deals are complete.
Tom Werner, the Liverpool chairman, held further talks with council officials during a visit to Merseyside last week and the club hope a breakthrough is close in the long-running, controversial stadium saga. FSG's predecessors, Hicks and Gillett, prolonged the delay during their near-ruinous tenure by scrapping stadium designs and then failing to secure funding for their preferred project. But Henry insists the finances are in place for FSG to redevelop Anfield, believed to be via the club's own banking facilities, and there will be no detrimental effect on Brendan Rodgers's transfer budget once work begins.
Henry said: "They [Hicks and Gillett] were talking about going out and borrowing an enormous amount of money for an enormous facility. That's not what we are doing here. One of their problems is that they weren't able to get financing.
"When this [project] happens, that won't be the problem. We just need certainty with regard to these properties. The number of properties is being reduced. The city council is doing everything they can and that's all we can ask. Not just the city council but Your Housing [a social housing developer] and everyone associated with this are all on the same page. The regeneration as well; we're all on the same page."