Liverpool co-owner Tom Hicks says too much money has already been spent for the Premier League team's proposed new stadium not to be eventually built.

Hicks believes replacing the outdated Anfield due to its 45,000 limited capacity and restricted commercial possibilities is central to cementing the Reds' status as one of the world's top football clubs.

Construction on the new site was frozen in August 2008 just before the world sank into a deep economic depression, and Hicks acknowledges he doesn't know when the stadium will be completed.

A dynamic world

"When we get to the point where the global market settles down and we bring pieces together to finance the stadium (then we can again start building)," Hicks said in an interview with The Associated Press this week. "It's certainly not anything we have changed our mind on. I don't know about the dates because of the global financial markets, but I know the markets will settle down and get better.

"I'm an optimist. I've been through lots of cycles, although none as severe as this in my lifetime. It's a dynamic world."

Hicks is believed to have had financiers scouring the world for minority investors to help fund the stadium for the past year.

After buying Liverpool in 2007 with George Gillett Jr, Hicks wrote off £10 million by ditching existing plans to replace the crumbling Anfield so architects from his native Texas could design a more spectacular stadium in the adjacent Stanley Park.