Aug. 29 (Bloomberg) -- Liverpool forecast a ``short-term'' delay of its new soccer stadium because of the slowdown in global credit markets.

The Premier League club, which was purchased by Americans Thomas Hicks and George Gillett for 174 million pounds in 2007, will use the time to expand the seating to 73,000, according to a statement today on its Web site.

``Like many other major development projects in the U.K. and overseas, we are affected by global market conditions and as such work on the project will be delayed in the short term,'' the team said.

The stadium was scheduled to open for the start of the 2011-12 season. No new date has been announced.

The club had full planning permission to build a 60,000- seat facility, which would allow it to increase its revenue to compete with Manchester United and Arsenal, which have bigger stadiums.

Liverpool, which last won the English title in 1990, has been beset by off-field disputes in the past year. There have been disagreements over transfers and the American owners were subject to fan protests about the increased level of debt since they took charge.

Hicks and Gillett refinanced their purchase with a $682 million loan from two banks on Jan. 25, leaving the club with debt of $205 million at that point.

To contact the reporter on this story: Christopher Elser in London at celser@bloomberg.net.

Last Updated: August 29, 2008 06:46 EDT