Everton have announced that an agreement is close to being struck with Liverpool City Council over the creation of an iconic waterfront stadium at Bramley Moore Dock.

The Toffees have held prolonged negotiations with Peel Holdings and, after successful talks regarding the site being used to build the £300m-plus state-of-the-art venue, plans can now be put in motion.

Everton intend to leave Goodison Park, their home for some 125 years, once planning permission is received - one of the final hurdles to be negotiated after acquiring the land at Bramley Moore Dock.

The banks-of-the-Mersey site was selected over Stonebridge Cross in Croxeth due to fears that the club would become hidden had they selected the latter, combined with more room now available to build on.

Everton chief executive Robert Elstone told the club's official website: "Over the past year, the club has worked with the support of the Council and we are grateful for the 'can-do' approach that has got us to this important milestone. We are particularly grateful for the role the Mayor has played to date in our talks with Peel and for his support in this important step in the journey towards reaching a funding solution for the stadium.

"We are delighted that we have been able to agree Heads of Terms with Peel, giving us control of the Bramley Moore Dock site and allowing us the time we need to complete the substantial further work required to be able to confirm the project's viability. We can now move forward into the next phase of work with much greater confidence.

"Clearly, it is vital we have clarity on cost and we have to recognise that the stadium will be significantly more expensive at Bramley Moore Dock. To get that certainty, and ensure the stadium is affordable, we need to confirm stadium design, capacity and configuration. And to do that, we need to talk to fans, partners and all stakeholders in the project. We're committing to that consultation. We're also committed to keep fans fully informed as the project develops and as other milestones are reached.

"We're keen to stress not only the scale of the work ahead but also the remaining risks and uncertainties. We're delighted we've secured the site and we're equally delighted the Mayor is continuing to support our financing model, but significant hurdles remain, not least the preparation and submission of a detailed planning application. Receipt of a successful planning approval at some point early next year will be the most significant step towards bringing the stadium to life."

Everton have played at Goodison Park since 1892, making it one of the oldest purpose-built grounds in the world, but they have previously failed with three attempts to leave since the turn of the century.