Liverpool co-owner Tom Hicks has admitted that the projected cost of building a new stadium for the club has increased by at least £150million.
Hicks and fellow American George Gillett took over the club in March and have since revamped plans for a stadium to replace Anfield by August 2011.
Liverpool are hoping to receive the City Council's seal of approval for the new plans at a meeting on 5th November.
However, Hicks has revealed that the new stadium will now cost the Merseyside outfit "at least £400m" - a considerable increase on the initial estimate of £250m.
The stadium is planned to hold 60,000 supporters and will be designed to accommodate an additional 10,000 fans when permission is secured.
"Our fans are wonderful and over time we'll be able to give them the amenities, comfort and ease of getting tickets they have never had before," said Hicks.
Hicks, though, insists he and co-owner Gillett did not invest in Liverpool in order to gain financial profit.
"People get involved in sport mainly because they have a passion rather than for the money," Hicks added.
"There are far better investments I could make than buying a football team."
Hicks and fellow American George Gillett took over the club in March and have since revamped plans for a stadium to replace Anfield by August 2011.
Liverpool are hoping to receive the City Council's seal of approval for the new plans at a meeting on 5th November.
However, Hicks has revealed that the new stadium will now cost the Merseyside outfit "at least £400m" - a considerable increase on the initial estimate of £250m.
The stadium is planned to hold 60,000 supporters and will be designed to accommodate an additional 10,000 fans when permission is secured.
"Our fans are wonderful and over time we'll be able to give them the amenities, comfort and ease of getting tickets they have never had before," said Hicks.
Hicks, though, insists he and co-owner Gillett did not invest in Liverpool in order to gain financial profit.
"People get involved in sport mainly because they have a passion rather than for the money," Hicks added.
"There are far better investments I could make than buying a football team."
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