Everton have signed an agreement to lease land on Bramley Moore Dock with a view to constructing a new 50,000-seater stadium on the site.

The Toffees have secured a 200-year lease, effectively handing control of the land to the Premier League club.

The lease for the proposed site, located at Liverpool Waters, is conditional upon gaining planning consent and securing funding for the construction of a venue that will replace Goodison Park.

Everton confirmed the agreement in a statement on Thursday, which read: "Everton Stadium Development Limited (a wholly-owned subsidiary of Everton Football Club) and Peel Land and Property (Ports) Limited have formally signed an agreement for the Club to lease land at Bramley Moore Dock, Liverpool Waters.

"The lease, which is conditional upon gaining planning consent for the proposed new stadium and securing funding for its construction, will run for a period of 200 years at a peppercorn rent.

"The signing of the agreement is a significant milestone in the project and means Everton effectively now controls the land upon which a new stadium would be built. This follows several years of searching for a new site and is the culmination of an exhaustive search across the city."

Everton, who have played at Goodison Park since 1892, also revealed that they would look to secure planning permission on the stadium in the New Year.