Everton are exploring a site for a potential new stadium 'close' to Goodison Park, it was revealed on Wednesday.
The announcement was made at a General Meeting of the Club's Shareholders.
Chief Executive Robert Elstone revealed the Blues have been in "constant dialogue" with Liverpool City Council over a new stadium.
Mr Elstone said: "One piece of land has been thoroughly investigated by the Club."
And chairman Bill Kenwright added: "We've had strenuous meetings with a very supportive (Mayor) Joe Anderson and the council. Last time we spoke, I think there were six or seven sites - now there are two or three, and there's one that I would love. But again, it's down to the funding package.
The possibility of sharing a stadium with city neighbours Liverpool was also brought up by one attendee and Mr Kenwright confirmed the idea would remain "on the agenda".
He said: "We've had a couple of meetings with Liverpool and the Council but it is not moving forward at the moment.
"I agree with you on the obvious advantages it would bring. We have identified a site close to Goodison and we have a council at the moment who are extremely positive in their desire to help us. If we take forward what we're looking at now, I think you would be happier than sharing with the Reds."