Chief Executive Christian Purslow has told Liverpool City Council that the club are confident of securing funding in the early months of 2010 and work can begin in the Spring. Liverpool FC had to start work on the stadium soon as it is part of England's 2018 World Cup bid.
"What they've said is they'll secure the finances in the first quarter, so that's between January and March," City Council leader Warren Bradley told BBC Radio Merseyside.
"We've been pressing Liverpool Football Club to ensure that they deliver the stadium and if they're not going to deliver it, to come clean with the council so we can look at other options.
"Liverpool Football Club have come back to us and said they're very close now to securing the finances and they want to move on as quickly as possible, not only for the World Cup bid but also for Liverpool Football Club, who see a new stadium as being the heart of the business plan."