Liverpool expect the redevelopment of the main stand at Anfield to earn the club an extra £20m per season. The cost of the £114m project is being funded by an interest free loan from owners Fenway Sports Group (FSG) out of their cash reserves.
Liverpool will repay the loan to FSG over five-and-a-half years. The possibility of securing a naming rights partner is being pursued, something that would be available for a one off payment of £10m.
Liverpool expect the redevelopment of the main stand at Anfield to earn the club an extra £20m per season. The cost of the £114m project is being funded by an interest free loan from owners Fenway Sports Group (FSG) out of their cash reserves.
Liverpool will repay the loan to FSG over five-and-a-half years. The possibility of securing a naming rights partner is being pursued, something that would be available for a one off payment of £10m.
Carillon, the construction company, will take full control of the site on Monday, with construction work planned to begin next month. The project is expected to be completed in time for the 2016-17 season, with an extra 8,500 seats added to the main stand, increasing stadium capacity from 45,000 to 54,000.
The number of corporate hospitality seats will double to around 7,000, something that is essential as Liverpool seek to catch up financially with their rivals. Liverpool will still be well behind Manchester United in the prawn sandwich league, but will draw level with Arsenal.
A second phase of the project to add 4,500 seats to the Anfield Road stand already has planning permission, but Liverpool are yet to commit a start date for the redevelopment. That would enable them to stage prestige events such as Champions League finals.
Uefa are continuing their investigations into Liverpool’s finances which increases the possibility of sanctions being applied.