English Premier League football club Everton has said that it will completely fund a move to the proposed stadium at Bramley Moore Dock.

While Liverpool City Council will provide assistance in obtaining the loan needed, the club has said it is expected to sign a 40-year lease to pay for the move in full.

Everton has also highlighted its commitment to constructing a new home ground that provides the same level of intensity and atmosphere as its current home, Goodison Park.

In March, the club had its £300m (€351m/$375m) new stadium plans backed by Liverpool City Council (LCC), with the move to build on Bramley Moore Dock formally approved.

According to the Liverpool Echo newspaper, Everton chief executive Robert Elstone said: “I’d like to thank you all for your support so far. I’d also like to reiterate our gratitude to Liverpool Mayor, Joe Anderson, Ged Fitzgerald chief executive of Liverpool City Council and their colleagues for their support in what could be a game-changer – not just for Everton, but for the city of Liverpool.

“In return for that support, the city will benefit not only from an annual cash sum that will contribute to vital local services across Liverpool, but a city-wide boost from new jobs, new businesses and wider community benefits kick-started by the developments at both Bramley Moore Dock and Goodison Park.

“Whilst the Council is lending valuable support, it is important to stress that the club is paying for the stadium in full. We will pay for our new home with a long-term lease, likely to be 40 years.”

The capacity of the stadium has yet to be officially decided, with the template currently stating a 50,000-seat venue. US architect Dan Meis is thought to be the man behind the design of the stadium.

Elstone added: “We have reason to be confident on capacity. As evidenced this season, Everton remains as ambitious as ever and will continue to challenge for a place in the Champions League.

“And, also, right now we have 10,000 prospective season ticket holders waiting for the release of around 3,000 seats, so we’re confident that we can fill a considerably bigger stadium.”

The club will soon launch dialogue with Everton fans, residents, businesses and its partners about the opportunities at Bramley Moore Dock and the area around Goodison Park.

“Lots of progress has been made in these two areas but, before we finalise any design, we’ll be taking on board the thoughts and ideas of our fans, the community, partners and experts – as well as looking at examples of best practice from all over the world,” Elstone said.