Everton received a boost on the eve of the Merseyside derby after Liverpool City Council approved the establishment of a scheme to help with funding for the proposed new stadium.
The cabinet met this morning and rubber-stamped a report which agreed to the setting up of a special purpose vehicle (SPV) which will allow the club to borrow the necessary money, guaranteed by the council, to finance the new £300million-plus ground 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.