Liverpool and Everton have been involved in initial talks over the possibility of sharing a ground.
The city council and the Northwest Development Agency (NWDA) have urged the two Merseyside giants to give consideration to the issue as the long-term solution to the ongoing debate over the future of Anfield and Goodison Park.
Public money could be available for such a project should the two sides end up sharing a stadium, although Liverpool have been swift to reaffirm their commitment to the regeneration of Stanley Park.
Liverpool are poised to submit a planning application at the beginning of October for a multi-million pound stadium in Stanley Park.
Everton's long-running bid to move from Goodison has so far proved unsuccessful, with plans to move to a waterfront development at Kings Dock the latest to fail to get off the ground.