Renowned American business magazine Forbes has declared the new Everton stadium on Bramley-Moore Dock a '$700m risk worth taking'.
Liverpool city council last week unanimously approved plans for a new 52,888-capacity stadium at Bramley-Moore which will generate an estimated £1.3bn for the local economy and create more than 15,000 jobs.
Zak Garner-Purkis, head of content at Construction News, noted 'the benefits of building a new stadium aren’t what they were' due to massive increases in broadcast and commercial revenue but believes Everton cannot ignore 'a range of intangible benefits'.
He wrote for Forbes : "In the era of the global soccer fan, where the majority of supporters will never visit the stadium of the club they follow, having an impressive modern venue that looks good in television drone footage or in a video game is even more important.
"The incredible experience of visiting an endearingly old-fashioned stadium like Goodison Park simply doesn’t communicate to those watching through screens on the other side of the world.
"That might seem shallow, but it makes a difference.
"It’s been reported that part of the reason Manchester City was bought by Sheikh Mansour in 2008 was that the stadium was already built.
"Tottenham Hotspur boss Daniel Levy, not a character who spends money lightly, also identified a larger modern stadium as crucial to the club securing elite status.
Garner-Purkis added: "An old ground is not an insurmountable obstacle for an ambitious team, but they normally have to have a lot of existing brand value to fall back on.
"History, of course, can be used as a powerful tool in attracting interest in a sporting team.
"But if we are being honest, memories of billowy shorted players scurrying around muddy pitches don’t provide the ‘wow’ factor that might impress a seven-year-old who’s discovering soccer for the first time on a far-away continent.
"The bold new waterfront home Everton is set to create will certainly be an impressive sight.
"Who knows? it could be the thing that propels them above their city rivals Liverpool for the first time in decades. Evertonians will certainly hope it is."
