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Sunday, October 05, 2008

No New Stadium for Liverpool until Global Financial Crisis Gets over

Moving to a new stadium is a much-awaited dream for the Liverpool fans. Even the club owners are also committed to fulfill the demand of the club fans. However, Rick Parry, the chief executive of Liverpool, has recently said that the current financial crisis in the world has halted the construction activities of the new stadium. Rick Parry also stated that it would be risky to take up any construction project amidst current economic recession across the world. However, he ensured that there would be no change in the long term plan for the new stadium and the work might resume sometime next year or so. Besides, he dismissed speculation suggesting that Liverpool might share the new stadium with city rivals Everton in order to share the huge construction cost for the stadium.

AFP reported:

Parry told BBC Five Live's Sportsweek: "With the financial markets in the turmoil as they are, any major construction project at this time is difficult, it is risky.

"I do not see any change in direction or any change in plans, and ground share is not back on the agenda.

"The point is, at this moment it is not the most sensible time to be borrowing huge amounts of money with the markets in turmoil. That will settle down and availability of money will increase.

I totally agree with Rick Parry because it is much more necessary to ensure the club’s financial stability than building a new stadium as early as possible. World economy is currently going through a recession period and any kind of investment in construction activities is risky. I think, for the betterment of the club, it has been the right decision taken by the club authority to stop the construction work for the stadium.

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