The main construction contract will see O’Rourke complete construction of the new 52,888-capacity waterfront stadium “while also providing Everton with greater certainty as to the cost of the remaining stages of the project.”

The deal follows on from the Pre-Contract Services Agreement (PCSA) signed by both parties in February 2021 and the Enabling Works Contract (EWC), which was focused on delivering the preparatory works at the North Liverpool site, including the in-filling of the dock that was completed in December.

Under the new agreement, O’Rourke will deliver a programme of works which includes the completion of any outstanding enabling works, the full construction of the stadium and public realm, and remedial works to the Grade II listed Hydraulic Tower, which will be brought back into public use.

Everton Chief Executive, Denise Barrett-Baxendale, said: “This is an important agreement at a crucial time for the Club and the stadium project.

“Our agreement with Laing O’Rourke follows on from last year’s pre-contract services and enabling works agreements and brings clarity on the overall costs of our new stadium.

“We are now able to lock-in construction costs, while also benefiting from Laing O’ Rourke’s economies of scale in what is an ever-fluctuating marketplace.

“Our new agreement signifies that we have the utmost confidence in Laing O’Rourke, who are using the very best digital engineering expertise and industry-leading knowledge of modern construction methods to bring our stadium vision to life.”

Construction work on the stadium began in the summer of 2021, with significant progress made on site as non-listed structures have been demolished, heritage assets removed and preserved, the dock basin repaired and infilled, foundations laid and the concrete structure of four corners of Everton’s new home now starting to emerge from the ground.