It might end up being a lease job. Its the Everton ground, Everton generate and retain the lions share of the income, but never actually owned by the club. If the lease is long, and watertight, win win imo.
It’s Everton who are financing the construction of the stadium. We’ll be signing a 40-year sub-lease from the SPV, after which we will take ownership of the stadium. The yearly lease fee was estimated at £14m p/a.
What we won’t own is the land, we’ll forever be leasing that land and paying ground rent to Peel.
Didn’t the exchange of contracts stipulate last week that it will be a 999 year lease, with peppercorn ground rent?
I honestly don’t see where this huge risk is? Should we default, the council will pick up the bill and then work out a financial plan with the club to finance their financial burden.
Are the council really going to asset strip the second biggest money spinner in the city and effectively make them worthless?
For once, let’s try and be happy about something. It’s about the only thing we have left to hope for.
Stay at Goodison = stagnation. Let’s see how long these sellout games last if there is no hope for better.