Because of restrictions on expanding the capacity at Anfield, Liverpool announced plans to move to the proposed Stanley Park Stadium in May 2002. Planning permission was granted in July 2004, and in September 2006, Liverpool City Council agreed to grant Liverpool a 999-year lease on the proposed site. Following the takeover of the club by George Gillett and Tom Hicks in February 2007, the proposed stadium was redesigned. The new design was approved by the Council in November 2007. The stadium was scheduled to open in August 2011 and would hold 60,000 spectators, with HKS, Inc. contracted to build the stadium. Construction was halted in August 2008, as Gillett and Hicks had difficulty in financing the £300 million needed for the development. In October 2012, BBC Sport reported that Fenway Sports Group, the new owners of Liverpool FC, had decided to redevelop their current home at Anfield stadium, rather than building a new stadium in Stanley Park. As part of the redevelopment the capacity of Anfield was to increase from 45,276 to approximately 60,000 and would cost approximately £150m. When construction was completed on the new Main stand the capacity of Anfield was increased to 54,074. This £100 million expansion added a third tier to the stand. This was all part of a £260 million project to improve the Anfield area. Jurgen Klopp the manager at the time described the stand as "impressive."