Everton lease land at Bramley Moore Dock for proposed new stadium

Everton have exchanged contracts to lease land at Bramley Moore Dock

Everton have exchanged contracts to lease land at Bramley Moore Dock

It means they can start planning for their new ground with the security of having the huge area of land available.

The new stadium is expected to be the catalyst for a proposed 5.5 billion pound ($7.3 billion) regeneration of north Liverpool, including leisure and residential facilities, two new river terminals and a cruise liner terminal on the Mersey.

The lease for the proposed site, located at Liverpool Waters, is conditional upon gaining planning consent and securing funding for the construction of a venue that will replace Goodison Park.

The Premier League club says the signing of the 200-year lease at a so-called "peppercorn rent" means the club effectively controls the land upon which the new stadium would be built.

According to a statement on Everton's website, the agreement with Peel Land and Property (Ports) Limited is "the culmination of an exhaustive search across the city".

Robert Elstone, Everton's chief executive, said Thursday the club will look to finalize a funding agreement with the local council and prepare for the submission of a planning application in 2018.

Everton have been at their current home since 1892 and have been searching extensively around the city for a plot for their new stadium.

"I'd like to thank Peel as well as Mayor Anderson and his colleagues at the Council for their support in getting us to this point".