Everton committed to Bramley-Moore stadium project and ‘funding is going ahead’, says chairman Bill Kenwright

The 73-year-old also said that Farhad Moshiri's move to increase his stake is a good sign

Everton remain committed to building a new stadium at Bramley-Moore dock and funding for the project is going ahead, chairman Bill Kenwright has revealed.

The new stadium, which could increase capacity to 55,000, requires an estimated £500 million to complete and Liverpool City Council have offered to loan Everton £280m for the project.

Everton’s billionaire owner Farhad Moshiri must provide the remaining £220m or find investment from the private sector, but Kenwright insisted all parties are committed to seeing it through.

“Any new stadium at this moment has to be carefully planned and thought out,” Kenwright told talkSPORT. “Look at the problems poor Daniel [Levy] is having at Tottenham. It's step-by-step.

“The architect is working hard, the council are with us, the funding is going ahead but we're not there yet, but it's very exciting, the prospect.”

Moshiri was present for the win over Watford with chairman Bill Kenwright (Getty)

Moshiri has invested heavily in Everton since first acquiring a 49.9 percent stake in the club in February 2016, bankrolling significant transfer spending on the likes of Richarlison, Gylfi Sigurdsson and Jordan Pickford in an attempt to close the gap on the Premier League’s big six.

This week Moshiri increased his stake to 68.6%, with his controlling interest scheduled to rise further to 77.2% no later than July 2019 – a process that Kenwright believes underlines the Iranian businessman’s desire to see Everton succeed on and off the pitch.

“I don't have to tell you the commitment he's given to Everton in terms of time and finance and he's put hundreds of millions in the club and I think there was a part of him now wanted that extra shareholding with the new stadium coming up,” Kenwright added.

“I think it will help with the further finance of the club but I don't think he did it with any massive ulterior motives.”