Everton have revealed that they intend to start work on their new stadium next year.

The club's chief executive Robert Elstone has confirmed that construction is scheduled to begin at the Bramley-Moore Dock site in 2019, with the project expected to be completed by the beginning of the 2022-23 season.

Everton are in the process of finalising a funding agreement with Liverpool City Council which will see the local authority loan the club £280m for the ground, with a view to recouping profits of £175m within 25 years.

The new stadium is expected to cost around £500m, and the Premier League outfit have revealed plans to make up the remainder of that figure via private-sector funding.

According to the Liverpool Echo, Everton's plans to begin work on the arena next year hinge on funding targets being met and planning permission being granted.

Everton have played football at their current home of Goodison Park since 1892.