Everton Reveal New Stadium Cost Has 'Escalated Significantly' But 2022 Target Remains

Everton chief executive Robert Elstone has revealed that the cost for the club's new stadium has "escalated significantly" due to a number of factors, but that it has not put a halt on plans for a targeted move into their new home ahead of the 2022-23 season. 

The Toffees agreed a deal to acquire land on the Liverpool waterfront at Bramley Moor Dock in March 2017, with an expected cost of around £300m all in. 

In a recent letter to the fans, however, the Merseysiders have since revealed that the initially estimated figure is smaller than now anticipated due to its "premium" location, inflation and the scale of the redevelopment of the area, despite not declaring what the new calculation is. 

"All our efforts during 2018 will be focused on meeting this challenging but achievable target", Elstone wrote, as quoted by BBC Sport.

"We are moving ever nearer to securing a significant proportion of the funding we will need to build the stadium.

"That funding target has escalated significantly and has occupied much of our efforts of the past 12 months.

"It's a challenge that has always had the full support of Liverpool City Council and throughout 2017, we have been totally committed to finding a funding arrangement that works for the club and the city."

Specific details surrounding Everton's new stadium are still under wraps, with no confirmation on the size of the planned structure, although Elstone has declared he wants an "ambitious capacity". 

The chief executive, who currently oversees things at Goodison Park, which currently houses 39,572 supporters, is adamant, however, that a potential naming rights deal, sponsorship and bigger attendances at the new ground could recoup their investment.