This from Greg Okeefe in the Athletic
Don’t expect to see the diggers and cranes descend on the Bramley-Moore Dock straight away. Although plans can now progress for the club to begin work this summer, there are a few procedural formalities to conclude before then.
First, Everton will formally complete their purchase of the land at Bramley-Moore from its owners, the property and infrastructure giant Peel Holdings for a pre-agreed fee in the region of £22 million. The club and Peel signed a heads of terms agreement in March 2017, which was always set to be sealed upon planning approval. Next, they will formalise the status of Laing O’Rourke as their contractor, and draw up a detailed build schedule with an itinerary of dates, from the opening remedial work at the dock to completion.
What about the funding?
Everton have a shortlist of preferred partners from around the world to fund the stadium. They range from banks to investment funds. “It’s a very attractive proposition to investors,” says Frank McKenna, the founder of private-sector lobbying group Downtown in Business. “It’s on an iconic site with potential for more than just football — you could imagine the stadium hosting big artists like Beyonce, and it’s a development that investors will get a return on.
“Everton won’t be scrambling about for investors. I suspect they will be able to be selective and pick the best of a bunch.”
It could be a matter of weeks or a few months before the club announce their partner although it is believed one group is already in pole position.
What about the naming rights?
Everton announced last January that they had struck a deal with USM, the company owned by Farhad Moshiri’s business partner Alisher Usmanov, over naming rights.
It saw USM pay £30 million for the exclusive option of becoming the ground’s main sponsor; and included the initial terms of an agreement on a multi-year deal should they decide to trigger the option. In the coming weeks, Moshiri will be in touch with his friend Usmanov to discuss the next step.
