Ryan said: "It is underway. They had to revamp it slightly because it was about £5m over budget, but the work has now started and the bulldozers have gone in.
"I spoke to the Lord Mayor on Monday and he said don't worry, everything is on track.'
"The roads are going in this month and the building work will start towards the end of next month. We should then be ready for October or early November next year. Hopefully, we will be opening the stadium in the Championship."