New Everton Stadium - Hill Dickinson Stadium

[catcherintherye]

I agree mate, i was more laying out why some will not believe until it's effectively being played by the team in.

We aren't as a group of supporters used to nice things happening, we also arent used to being ran by someone who has a clear idea about what he's doing and is exceptional at it.

Frankly anyone bandying around 'quick profit' etc about the new owner or similar can be effectively discounted IMO

Good points. I think the slow progress is a positive sign. They are very keen to not jeopardise things by going too quickly. I'll have to have a look at the figures more closely and I'm sure there will be summaries.

 

[bluestevon]

Interesting note in that report that we're raising funding from an unnamed "third party investor".

I wonder who that would be.

can you quote that part if its not too much trouble mate?

 

[dannythomas89]

Wonder who will supply the steel.....

 

[Efcjake]

Did my reply before reading it mate, but amended since reading it mate.

I'm either savvy or a liar - you decide. (I never lie)

I went with Savvy, anyone asks and the Echo got it from you.

 

[Azza]

The SPV will get approved. It would be ridiculous of the council not to agree given the current state of public sector & local government finances.

'The Funder' - surely USM?

What would be amazing is if we have lent money from LCC...

And they have actually been provided the loan by USM and Usmanov.

lol lol lol

Nearly right?


I can't see Moshiri, given his connections etc to get funding from a high street bank or some random hedge fund. And I can't see there being anything technically wrong with USM as a company including Usmanov being involved in developing a stadium as he'd have no dealings with the club, just in the same way as the Finch Farm deal but just on a huge scale.



I imagine planning application will be submitted as soon as the SPV has been setup given how long Dan Meis has been working with the club.

 

[DaChunk]

??

 

[Sennott Street]

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.

It appears in reading Efcjake's post that the entity that provides the financing will be the owner, then that entity will lease it to the SPV who will then sublease it to Everton, and a portion of the 4M annual payment will payback the amount borrowed over the 40 years.

 

[Eggs]

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?

...bit like a mortgage.

 

[EFC85]

Shows the 50k I mentioned earlier. Full report is : http://councillors.liverpool.gov.uk...Everton FC New Stadium - Deal Terms RTC45.pdf

 

[mmmmsnouts]

50k mentioned on council report
Dissatisfied with that personally.
Doubt it will be changed as that will likely increase costs and render the finance model pointless currently.

That's 10,000 more seats than we have now and probably 15,000 more unobstructed seats. For all the pee we take when City and Big Stand have empty seats on match day, let's not create the same problem for ourselves right away.

 

[hibbo'sclass]

I went with Savvy, anyone asks and the Echo got it from you.

Or their recent writer, Esk.

 

[streeky]

@davek @hibbo'sclass

So on top of paying the interest for the loan which the Council is helping to secure for us as guarantor we will be paying annual lease payments to the council as a way of rewarding them for acting as our guarantor.

Is the cost of lending 300 million + quid to Everton vs lending it to the Council worth an extra 160 million (4 million x 40 years) quid to us?


Is the interest they'd charge if we secured the loan ourselves vs with the council more than 160 million quid???

That seems steep.

About 1.25 % over their interest rate , from figures being spoke about last night we will save maybe 8m a year even after paying the council their 4m if we had to go into business loan market.

 

[RobSpurs]

Where is the 50 000 seater info coming from?

This document from the council, but it doesn't read as if that's the decided capacity. More like a £300m, 50k stadium is the minimum being sought and anything in excess of that will require larger payments from Everton to the council. In other words, this is a working figure, which - I would have thought - will almost certainly rise.

Also, the document contains this, which sounds like good news...

"EFC intend to use the Stadium move to facilit ate a vital Legacy Project at Goodison Park, delivering health, education, affordable housing and public spaces for the local community which is likely to stimulate further investment in the L4 area and will create social, environmental and economic benefits. Details of this will emerge from EFC in due course."

http://councillors.liverpool.gov.uk...Everton FC New Stadium - Deal Terms RTC45.pdf

 

[Scouse]

voices in peoples heads it appears

Read the link on page 1934 of this very thread lad, it's there in black and white.
50,000 seater stadium...and not a mention of being able to expand.

 

[Jay]

http://councillors.liverpool.gov.uk...Everton FC New Stadium - Deal Terms RTC45.pdf

Initial high level studies conclude that the full development cost of a new 50,000 seater stadium with associated site specific facilities and infrastructure would be in excess of £300 million.