Liverpool have submitted an application for planning permission for a proposed new 60,000-seater stadium in Stanley Park.
If granted, the stadium would be built less than 300 yards from their current home Anfield and is scheduled to open in time for the start of the 2006/07 season.
The club hope to start work on the new ground by spring 2004, with the project expected to cost around £80million.
Liverpool chief executive Rick Parry said: "These plans will have a massive impact on the area.
"Three years have elapsed since they were first mooted and several million pounds and a phenomenal amount of time has gone into reaching the stage where we're at today. The changes to the stadium are not massively different to the ones unveiled last year but it will be pretty unique and one that cannot be compared to any existing model.
"The areas around the stadium are of great interest now and it is a project fitting of Capital of Culture status for the city.
"We believe we have covered every possible angle in terms of the planning application and it's a critically important day for us. We are delighted to have reached this stage but things will get much harder from here on in as the project gets bigger.
"As part of the planning application process, information about what is planned in terms of regeneration for the whole community is included.
"This is something which has followed extensive dialogue with the community in the last three years. The club sees the new stadium as a catalyst for the regeneration of the entire area, which will be to the benefit of the whole community.
"However, we made clear the time scales involved are now critical if the stadium is ready for 2006 and the regeneration package completed in time for the European Capital of Culture in 2008."
If granted, the stadium would be built less than 300 yards from their current home Anfield and is scheduled to open in time for the start of the 2006/07 season.
The club hope to start work on the new ground by spring 2004, with the project expected to cost around £80million.
Liverpool chief executive Rick Parry said: "These plans will have a massive impact on the area.
"Three years have elapsed since they were first mooted and several million pounds and a phenomenal amount of time has gone into reaching the stage where we're at today. The changes to the stadium are not massively different to the ones unveiled last year but it will be pretty unique and one that cannot be compared to any existing model.
"The areas around the stadium are of great interest now and it is a project fitting of Capital of Culture status for the city.
"We believe we have covered every possible angle in terms of the planning application and it's a critically important day for us. We are delighted to have reached this stage but things will get much harder from here on in as the project gets bigger.
"As part of the planning application process, information about what is planned in terms of regeneration for the whole community is included.
"This is something which has followed extensive dialogue with the community in the last three years. The club sees the new stadium as a catalyst for the regeneration of the entire area, which will be to the benefit of the whole community.
"However, we made clear the time scales involved are now critical if the stadium is ready for 2006 and the regeneration package completed in time for the European Capital of Culture in 2008."
