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Everton FC have finally confirmed they want to build a new stadium in Walton Hall Park.

The club wants to quit its Goodison Park home to move the short distance up the road, in order to increase capacity and operate from a modern stadium that would generate more revenue.

Club chairman Bill Kenwright said: “On my journey to our home games, as I pass Walton Hall Park, I inevitably think that I am only a minute away from our beloved Goodison. For several years now I’ve also thought, if only it was available for our new stadium, it ticks all the boxes.”

Liverpool council wants to see a comprehensive regeneration of the area and believes more than 1,000 jobs could be created in the process.

The council will be involved as an official partner, along with housing association Liverpool Mutual Homes, which will build new homes as part of the overall regeneration scheme.

But city leaders insisted there would be none of the demolitions that have been a necessary part of Liverpool FC’s long-running new stadium saga, and city mayor Joe Anderson said the public would be fully consulted on their views ahead of any development.

Details are vague at present, but the announcement by the club that it has Walton Hall Park in its sights is the most firm indication of what the club’s future plans are since 2009 when the government rejected its move to a 55,000 seater stadium in Kirkby.

The ECHO understands the reason for the news breaking now is partly because the council has to draw up its planning blueprint for the city, showing what areas are available for what type of development, and the use of Walton Hall Park for this kind of scheme has to be included.

Mr Kenwright added: “It would fill me with great pride, it could be something very special for our city, the residents of North Liverpool and all Evertonians – a new home that goes beyond football and does what Everton does better than anyone else.

In pictures: Archive shots of Goodison Park

“Of course there’s enormous work to do – that again involves fixing a huge financial jigsaw – but we are certain it’s an opportunity we should pursue with great commitment, endeavour and ambition.

“To get every aspect right will take time as well as the continued support we’ve received to date from Joe Anderson and his colleagues at the council.”

It is thought up to half the 120 acre parkland could be required for the project – something which could well provoke opposition from green campaigners even if the financial aspects are overcome.

The club has been considering several potential new locations, and although Mayor Anderson would not confirm which ones the club had been talking about, documents obtained by the ECHO show that Stonebridge Cross and Edge Lane were under consideration in 2011.

At this stage, there is no detail on how much the stadium would cost, and the council’s financial input is likely to be solely for improvements to what remains of the park once the stadium is built.

The council has already spent £13m buying the Blues’ Finch Farm training ground, which it now leases back to the club.

But if the authority made the same commitment to the Everton project that it is making to the regeneration of the Anfield area, the investment would be in the region of £20m.

Mayor Anderson said: “The council is going to put some money in and that will be around regeneration, not directly into the football club or stadium without getting a financial or commercial return.”

He said keeping the club in the city and seeing it contribute to the regeneration of the north end of the city was important from an economic and cultural point of view, and that the park was the best option. He added: “The park is probably one of the most under-used in the city, we get complaints about anti-social behaviour and that it’s just used for dog fouling . . . and I think a proposal that enhances a park in that area and provides other facilities, better facilities, is a better opportunity for the city.”

He said the plans could see up to 1,250 new jobs through the construction phase and the leisure and retail elements of the scheme, which are yet to be decided upon.

But as for what the move would mean for a redundant Goodison Park or the businesses and the community around the current ground, there is little detail at the moment.

But one thing that would not be happening would be a supermarket taking over the site.

In terms of the blow the relocation of the club could deal to the area around Goodison, Mayor Anderson said the council often received complaints from businesses there because matchday crowds deterred people from shopping, but at the same time recognised that businesses like pubs and takeaways benefited from the influx of people.

But he said the community there still stood to benefit as people would be making their way to the park through the County Road area.

Everton FC chief executive Robert Elstone added: “We are delighted to be the conduit for the council’s commitment to enhancing the outlook of the residents of north Liverpool.

“We are equally delighted to be exploring an opportunity that allows us to reinforce our commitment to our fans.

“We don’t know how long the journey will take but we won’t lack stamina or commitment. It is also essential that we bring fans with us.”

It is expected that TV revenues and lucrative stadium naming rights will help towards financing the project, which could cost in the region of £200m.

Also involved in the plans will be Liverpool Mutual Homes, which will invest in housing in the area.

Its chief executive Steve Coffey said: “We are very excited at the prospect of integrating any proposals with the existing communities and we look forward to working with local residents and other stakeholders to explore this further.”