SAINTS bosses this week revealed that they are optimistic that the £20m new stadium’s feelgood factor will transform the club - and lead to a new era of glory.
They hope the move to the magnificent new home will help balance the club’s books after reporting an annual loss of more than £1.35m.
But an upbeat chairman Eamonn McManus said: “There will be a significant increase in fixed assets once the club takes title to the new stadium, which is expected to be in October 2011.
“A financing package has been agreed and will be put in place in 2011 to enable full financing of the stadium and its fit out.
“The new stadium will transform the club’s balance sheet and present us with new and enhanced revenue opportunities, which must be fully exploited.”
He cited the club’s failure to take full commercial advantage of the farewell season at historic Knowsley Road as the trigger of the spiralling debts.
In a financial statement lodged with Companies House, Saints bosses revealed that turnover fell to £4.83m in the year ending in October 2010 – compared to £4.89m in 2009.
Mr McManus also revealed that the sale of Knowsley Road had to be “written down” by £1.63m after housing developers Taylor Wimpey renegotiated the £8.13m price.