Parry cash warning as move gets go-ahead

Liverpool chief executive Rick Parry today warned the club he will scrap plans for a new stadium if costs spiral out of control.

The club got approval for a 55,000-seat ground in Stanley Park from Deputy Prime Minister John Prescott yesterday and want to move from Anfield in 2007.

Last-minute legal challenges are still possible but building costs are of greater concern. The original budget for the new stadium was £60million but estimates for the final total are now nearer £100m.

Parry said: "It [approval] is not the final hurdle but it is a significant step forward.

"We are confident we will secure the funding but we have always said we would only go ahead if it was viable. We are not going to bankrupt ourselves."

Liverpool have been talking to potential investors and income from this season's Champions League could also be important, with manager Rafael Benitez's team playing Olympiakos in Group A in the competition tonight.

Benitez, whose side beat Monaco 2-0 in their opening fixture, warned that Rivaldo will be the main threat.