Mutzo Nutzo
Player Valuation: £70m
The club aren't paying for the stadium build - that money will come from financial lenders still to be sought/disclosed (probably Usmanov). We get the option of owning the stadium after 40 years
The club aren't paying for the stadium build - that money will come from financial lenders still to be sought/disclosed (probably Usmanov). We get the option of owning the stadium after 40 years
ricer10
Player Valuation: £15m
Is there anything to actually cover ?! More than a little anti climactic
Kings Dock MK II ?
...it is being covered on SSN, Anderson and Elstone.
As I suggested, Anderson referring to how he facilitated the Reds deal at Stanley Park for the good of the city.
As I suggested, Anderson referring to how he facilitated the Reds deal at Stanley Park for the good of the city.
Efcjake
All the awards
Echo article on where the money is coming from: http://www.liverpoolecho.co.uk/news/liverpool-news/new-everton-stadium-money-from-12788250
I think that it means the club funds/procures finance but outside of the group, builds it, leases it to the council, who get a fee to lease it back to the club.
Potentially a similar structure to EIL/GPSL but not group companies
Bit confused to be honest - given the paucity of detail it almost looks like a sweetener is being paid to LCC by way of the annual licence fee.
May be miles wide of the mark though as some of it makes no sense in terms of increasing FFP profits.
Let's see what comes out a week tomorrow.
* this is a non-vaultable post and any pee-taking will see me dissolve in a pool of tears.
anton66
Player Valuation: £50m
Not from what I can gather.
The Council are merely acting as guarantor and unless Everton go skint, will never have to fork out a penny.
davek
Player Valuation: £150m
Yep. It's still all very provisional on even the stuff agreed so far...I mean, the full LCC cabinet could step in and slap Anderson down theoretically.
Mutzo Nutzo
Player Valuation: £70m
Leave this thread now
I'm still trying to understand the terms, but this looks true.
It seems a huge figure for EFC to be paying LCC to guarantee the loan.
MikeH72
Player Valuation: £100m
This isn't a pipe dream like the others. We've actually done something tangible here other than draw up fancy sketches of stadiums. This is more progress than we've ever made before, it's a huge step, the biggest one we'll probably have to take.
Chunky Frankfurter
Player Valuation: £750k
This has been very fun. Same time next year?
Efcjake
All the awards
Mayor Anderson is clear on this: “We provide security, using our status as an organisation, enabling them to go to the market to secure a loan.
“It won’t cost taxpayers any funding or any money at all. Indeed the reverse is true – Liverpool city council, out of the deal for that security, will receive a substantial amount of money, in excess of £4.4m a year if we do reach an agreement.”
And he added: “We’ve made no offer to fund the stadium and we have not been in talks with Everton to do so.”
* So where will the money for the stadium come from?
It’s up to Everton to find the money it needs following its own negotiations.
But having the council as a guarantor should make this stadium development much more attractive to potential investors.
Nick Kavanagh, the council’s director of regeneration, said: “With the financial position of the club now and the security given by the city council we will be bowled over by the amount of organisations that want to provide that funding.”
* What exactly is the council doing?
It is setting up a company, called a Special Purpose Vehicle, that will sit in between Everton and its lender.
The SPV will get an annual payment from the club, a year in advance. Most of that will go back to the funder to pay off the stadium costs and more than £4m a year will go to the council.
*How exactly will this work?
Strictly speaking, it will be the lender, rather than Everton FC, that buys the Bramley Moore dock land on a 200-year head-lease.
The funder will then lease the stadium to the council’s SPV for 40 years. And the SPV will then lease it to Everton for 40 years, less one day.
Everton will then pay an annual rent to the SPV so that company can pay off the funder and get an annual “fixed security fee” – that’s the £4m-plus that will go to the council.
And at the end of those 40 years, Everton will have the option to buy the lease for Bramley Moore Dock from the funder.
* Isn’t this a bit unusual?
Both Mayor Anderson and Mr Kavanagh say that the creation of an SPV is a common arrangement across the country when councils want to help support major regeneration projects without putting in cash themselves.
The Mayor said: “If it was Liverpool Football Club or any other institution that came to us with this deal I’d bite their hands off and it’s a great deal for Liverpool city council.”
* Doesn’t this put the council at risk? What if Everton get relegated?
Essentially the council, through the SPV, gets first dibs on some of Everton’s most important sources of income – like season ticket sales.
Mayor Joe Anderson says the SPV deal has been thoroughly scrutinised to make sure the council’s money is safe.
Everton FC has had to provide a “security package” as part of the deal to ensure that the SPV always gets paid.
It will have to create new bank accounts into which certain club income streams will be paid. If the SPV doesn’t get its rent, it can dip into those protected accounts.
The Mayor said: “Liverpool Council will have first take on season tickets, on the players themselves, on the naming rights, on the ownership of the stadium and of the television rights.”
* But why is the council getting involved with a football club anyway?
Mayor Anderson believes the stadium would play a massive part in the regeneration of north Liverpool.
Among the other projects planned for the area are a £50m new cruise liner terminal, a £25m Isle of Man ferry terminal and new apartments in the old tobacco warehouse at Stanley Dock. The council is also investing £50m in road improvements in the area,
The stadium would also kickstart the northern end of Liverpool Waters. There are several plans for Princes Dock, and Peel last week outlined plans for development in the Central Dock area, but Bramley Moore and Nelson docks would have been the last areas to be developed in Peel’s £5.5bn Liverpool Waters masterplan.
The stadium is likely to be just the start – restaurants, hotels and other facilities for fans are sure to follow.
“It won’t cost taxpayers any funding or any money at all. Indeed the reverse is true – Liverpool city council, out of the deal for that security, will receive a substantial amount of money, in excess of £4.4m a year if we do reach an agreement.”
And he added: “We’ve made no offer to fund the stadium and we have not been in talks with Everton to do so.”
* So where will the money for the stadium come from?
It’s up to Everton to find the money it needs following its own negotiations.
But having the council as a guarantor should make this stadium development much more attractive to potential investors.
Nick Kavanagh, the council’s director of regeneration, said: “With the financial position of the club now and the security given by the city council we will be bowled over by the amount of organisations that want to provide that funding.”
* What exactly is the council doing?
It is setting up a company, called a Special Purpose Vehicle, that will sit in between Everton and its lender.
The SPV will get an annual payment from the club, a year in advance. Most of that will go back to the funder to pay off the stadium costs and more than £4m a year will go to the council.
*How exactly will this work?
Strictly speaking, it will be the lender, rather than Everton FC, that buys the Bramley Moore dock land on a 200-year head-lease.
The funder will then lease the stadium to the council’s SPV for 40 years. And the SPV will then lease it to Everton for 40 years, less one day.
Everton will then pay an annual rent to the SPV so that company can pay off the funder and get an annual “fixed security fee” – that’s the £4m-plus that will go to the council.
And at the end of those 40 years, Everton will have the option to buy the lease for Bramley Moore Dock from the funder.
* Isn’t this a bit unusual?
Both Mayor Anderson and Mr Kavanagh say that the creation of an SPV is a common arrangement across the country when councils want to help support major regeneration projects without putting in cash themselves.
The Mayor said: “If it was Liverpool Football Club or any other institution that came to us with this deal I’d bite their hands off and it’s a great deal for Liverpool city council.”
* Doesn’t this put the council at risk? What if Everton get relegated?
Essentially the council, through the SPV, gets first dibs on some of Everton’s most important sources of income – like season ticket sales.
Mayor Joe Anderson says the SPV deal has been thoroughly scrutinised to make sure the council’s money is safe.
Everton FC has had to provide a “security package” as part of the deal to ensure that the SPV always gets paid.
It will have to create new bank accounts into which certain club income streams will be paid. If the SPV doesn’t get its rent, it can dip into those protected accounts.
The Mayor said: “Liverpool Council will have first take on season tickets, on the players themselves, on the naming rights, on the ownership of the stadium and of the television rights.”
* But why is the council getting involved with a football club anyway?
Mayor Anderson believes the stadium would play a massive part in the regeneration of north Liverpool.
Among the other projects planned for the area are a £50m new cruise liner terminal, a £25m Isle of Man ferry terminal and new apartments in the old tobacco warehouse at Stanley Dock. The council is also investing £50m in road improvements in the area,
The stadium would also kickstart the northern end of Liverpool Waters. There are several plans for Princes Dock, and Peel last week outlined plans for development in the Central Dock area, but Bramley Moore and Nelson docks would have been the last areas to be developed in Peel’s £5.5bn Liverpool Waters masterplan.
The stadium is likely to be just the start – restaurants, hotels and other facilities for fans are sure to follow.
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