New Everton Stadium - Hill Dickinson Stadium

[Quim]

People have been misled and had their timelines messed about with. No one surley ever thought this would be bells and whistles and bat lights?

My concern is who could be being left holding the baby here. Who takes most of the risk here and who (ultimately) gets the biggest financial boost from a built stadium. It looks to me like Moshiri is carrying no risk but will get a massive financial reward if/when it's built.

I have no problem with that though, its not like he grew up on Breck Road. If he leaves Everton in a much better position and makes a few quid in the mean time good luck to him.

 

[Neiler]

That's where I'm at, but from what @jinkyali says the council are securing the loan for us as a guarantor to give us access to cheaper financing (lower interest) than we would receive by trying to secure finance on our own. They must have some fantastic lending relationships if the difference in interest rates makes it worthwhile to pay out the council 4 million quid a year for acting as the guarantor.

So the current thinking is,

- Everton secure funding through a borrower 300+mill.
- The Council go guarantor.
- Everton build the stadium.
- The Council take ownership of the stadium on completion.
- The council lease to Everton for 40 years.
- Everton pay back 4 mill a year for 40 years.
- Everton take ownership of the Stadium in 40 years time.

So in essence Everton have to borrow 300+ mill and give the council 160 mill over 40 years.

Total (conservative cost) 460 mill.

 

[Efcjake]

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.

Yeah that is what is outlined in the Echo article I've just read.

 

[Eggs]

Is there anything to actually cover ?! More than a little anti climactic
Kings Dock MK II ?

...let's not forget that before today it was all conjecture with a couple of sites in the frame. Now destination Bramley Moore dock is confirmed and we can monitor through the governance process. We also know LCC are underwriting the development as part of low interest deal. Everton needs to confirm it has the funds in place.

 

[Toast]

...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.

The fact RS got permission to actually build on Stanley Park amazed me at the time. Genuinely.

This gives me loads of hope that Anderson will get this over the line for us.

 

[Telford-Feb-85]

So USM build it and have no contact with Everton on paper. Nice!

 

[bluestevon]

People have been misled and had their timelines messed about with. No one surley ever thought this would be bells and whistles and bat lights?

My concern is who could be being left holding the baby here. Who takes most of the risk here and who (ultimately) gets the biggest financial boost from a built stadium. It looks to me like Moshiri is carrying no risk but will get a massive financial reward if/when it's built.

Show me any owner in recent memory who has ever built a stadium without being the person who benefited most from it, in fact show me any owner in recent memory who has built anything like this size of stadium from their own money Dave?

Not even the Mansours did so, nor Abramovic (whose redeveloped Chelsea is via loans btw), Kroenke certainly didn't, even the rs big stand wasnt paid for by the owners out their own money

 

[GwladysBlue]

Is this essentially rent-to-buy?

After 40 years will we have to pay a certain amount, or will we have already paid for it fully from the previous 40 years of rent?

 

[The_La]

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.

He has informal cabinet approval and sign off from the district auditor

 

[Lee Smith]

Interesting....

 

[ToffeeTim]

Has potential capacity been mentioned?

 

[bol-uk]

Where is the 50 000 seater info coming from?

 

[Frank Gallagher]

so ,, were playing at wembley till its built in 2022... gunna cost a bit in derv

 

[bitter-no-better]

Question. Did we secure the land for Kirkby or the original dock bid before they fell through?

 

[Mutzo Nutzo]

Is this essentially rent-to-buy?

After 40 years will we have to pay a certain amount, or will we have already paid for it fully from the previous 40 years of rent?

After 40 years the stadium will be ours for a nominal fee