American owners to back new Liverpool stadium

The new American owners of Liverpool Football Club, who will complete a £470m buyout, have promised fans that work on the new stadium at Stanley Park will commence in the next 60 days.

The long-running buyout saga was completed earlier this week, after more than three years of uncertainty, and a last minute collapse in relations with the Arab-led Dubai International Capital consortium.

The proposed 60,000-seat venue has also been beset with problems, primarily due to funding difficulties, which may now be resolved.

George Gillett Jr and Tom Hicks have avoided borrowing against the club to fund their takeover – unlike Malcolm Glazer's purchase of Manchester Utd – prompting confidence that the capital required to build the stadium can be sourced.

Both men have significant experience in the delivery and management of major sports operations – Gillett owns the Montreal Canadiens ice hockey team, and Hicks the Texas Rangers baseball franchise and Dallas Stars ice hockey team.

The new owners have insisted that they do not consider Liverpool to be a money-making opportunity and stressed that success on the pitch remains their priority.

The £470m does not include a stadium fund, estimated to be around £215m, which would need to be sourced by a loan, although Gillett said they were committed to building "the greatest facility in the sport".

This will almost certainly carry a cost for fans – it is likely that ticket prices at the new stadium would rise, and a naming rights package, away from the famous Anfield name, would be controversial.