Liverpool Football Club could move into a new stadium as early as next year, after plans for a 60,000-capacity stadium at Stanley Park were approved by city council.

A joint venture company is to be set up to deliver the new site and construction could begin as early as July, with completion aimed for 2008.

Liverpool FC's chief executive Rick Parry said: "We have been working for many years with the city council and the community to deliver not just a new stadium but also the regeneration of north Liverpool.

"We are all working to ensure that the plans can be implemented, as soon as possible while at the same time ensuring there is no delay in the regeneration process."

The announcement ends speculation that Liverpool would move into a new stadium and share it with local rivals Everton.

According to Liverpool officials, a joint venture would have added delays to the process, and the club is eager to begin construction on the new site.

A Liverpool spokesperson said: “Despite full and frank talks between the city council and the two clubs, the proposal had too many unknowns and would have created significant delays which could have put the entire new Anfield and Stanley Park project at risk.”