News broke earlier on Thursday that the blues had reached an agreement to purchase the Bramley-Moore dock area, located on Liverpool’s iconic waterfront from Peel Holdings.
It was initially thought that the company wanted as much as £30 million for the land but reports suggest that it may not cost that much.
The purchase is currently subject to the club acquiring planning permission and the required funding to build in future.
According to the Daily Mail, that planning permission will not be sought out until late 2017, with several steps required before work can begin on the site.
Should they acquire both the planning permission and funding, BBC Sport reports that the new stadium would cost £300 million.
To put that into context, Tottenham Hotspur’s new stadium is set to cost them £800 million to build, while Arsenal’s Emirate’s stadium cost £390 million at the time. West Ham’s London Stadium ended up costing £760 million.
For further context, the Stadia della Roma, which was designed by architect Dan Meis, the man tasked with designing Everton’s new ground, cost £258 million.