There have been indications since 1996 that Everton will move to a new stadium. The original plan was for a new 60,000-seat stadium to be built, but in 2000 a proposal was submitted to build a 55,000 seat stadium as part of the King's Dock regeneration. This was unsuccessful as Everton failed to generate the £30 million needed for a half stake in the stadium project, with the city council rejecting the proposal in 2003. Late in 2004, driven by Liverpool Council and the Northwest Development Corporation, the club entered talks with Liverpool F.C. about sharing a proposed stadium on Stanley Park. Negotiations broke down as Everton failed to raise 50% of the costs. On 11 January 2005, Liverpool announced that ground-sharing was not a possibility, proceeding to plan their own Stanley Park Stadium.