New blow for LFC stadium as NWDA witholds £9m

Jul 1 2008 by David Bartlett, Liverpool Daily Post

THE Northwest Development Agency has refused to hand over a £9m grant for Liverpool FC’s new stadium project until the club proves it has got the money for the £350m scheme.

Steve Broomhead, chief executive of the NWDA, spoke to Kop Holdings – the owners of LFC – yesterday over the funding of the stadium.

The agency had previously agreed to provide a £9m grant for the scheme which includes regenerating the park and a community partnership centre.

While Mr Broomhead made clear the money is still available, the agency will not hand it over until “detailed evidence” that funding is in place to complete the project.

The revelation came as it emerged LFC co-owner Tom Hicks had agreed an unrelated $3.2bn (£1.6bn) deal with a plastic container company in the USA.

The Texan is understood to be keen for Liverpool fans to see that he still has the clout to pull off big financial packages, despite the credit crunch.