New Everton Stadium - Hill Dickinson Stadium

[ALANSTUBBS]

40 year mortgage ...

FTFY

 

[Efcjake]

My source got the length of the deal wrong. They told me 30 not 40 years. Spot on about the annual profit to council though. £40m

Sorry if i mislead anyone! ;-)

So the council is lending us the money and we're paying them back with an annual payment?

They don't mention this on the OS article as far as I can see.

 

[The_La]

£40 million a year for 40 years?

Sorry. Typo. £4m per year profit to council

 

[jinkyali]

Two things.

Who owns it ?
Thirty or forty years ?

 

[Jags..class]

It's will be a big job draining this

 

[Efcjake]

The council will receive a security fee of approx £4.4m per year for acting, in effect, as guarantors for the finance

Where has this been stated?

 

[Bungle]

If Elstone is after opinions from fans then can I suggest that the foundations would be an ideal place to stash his body.

 

[BlueLlama]

The stadium equivalent of thinking we are signing Yarmolenko and getting Niasse instead

 

[The_La]

Two things.

Who owns it ?
Thirty or forty years ?

Forty it seems. My source got that bit wrong. Soz

 

[garyw]

So the council is lending us the money and we're paying them back with an annual payment?

They don't mention this on the OS article as far as I can see.

No No No !!!

 

[EFCccc]

Haha, nothing. Summer all over.

 

[jinkyali]

So the council is lending us the money and we're paying them back with an annual payment?

They don't mention this on the OS article as far as I can see.

No. Council participation is acting as guarantor only. For that they get 4m per year.

This enables the club to access a cheaper pool of finance.

 

[Neiler]

I haven't seen anything yet that states that the council is agreeing to lend us money. Besides the "PM" where is this coming from?

is it this bit here?




I'm not sure if that is saying they are lending us the money or if we pay them an annual security fee to secure the planning rights for the site or something like that?

Im confused here:

A report will be presented to the council’s cabinet next Friday (31 March) recommending that the City Council progress Heads of Terms to create a new Special Purpose Vehicle (SPV) company which will take a lease of the stadium from a funder and, in turn, sub-lease it to the Club.
The recommendation being presented to the council’s cabinet follows months of talks between the Club and the local authority and following advice from independent financial and legal experts who have reviewed Everton’s “robust business case”.
Under the proposed finance structure of the SPV the council will not provide any finance for the new stadium, which is anticipated to cost in excess of £300m and will be fully funded by the Club.

What are the council funding? what are we funding? who owns what? and what is the liability?

 

[chippy1722]

I haven't seen anything yet that states that the council is agreeing to lend us money. Besides the "PM" where is this coming from?

is it this bit here?




I'm not sure if that is saying they are lending us the money or if we pay them an annual security fee to secure the planning rights for the site or something like that?

We find the funding the council act as guarantor for a fee, so it's like giving you da a few quid for going guarantor while you take an amigo loan out.

Is that right????

 

[Efcjake]

Ahhhh here's the details:

http://www.liverpoolexpress.co.uk/council-support-new-everton-stadium-plans/

A report will be presented to the council’s cabinet next Friday (31 March) recommending that the City Council progress Heads of Terms to create a new Special Purpose Vehicle (SPV) company which will take a lease of the stadium from a funder and, in turn, sub-lease it to the club.