Everton's new stadium plan gets funding boost

Everton's bid to build a new £300 million ($373 million, 349 million euros) stadium received a boost on Friday as Liverpool City Council approved the establishment of a funding scheme. The Premier League club want to leave their historic Goodison Park home and will be allowed to borrow the necessary money, guaranteed by the council, to finance a new arena at Bramley-Moore Dock.
Everton can now begin the planning process which will potentially lead to the submission of a formal planning application by the end of the year. The cabinet report claims a new stadium will bring a forecasted £9 million in economic benefits to the city annually and could play a part in its Commonwealth Games bid for either 2022 or 2026.