The £300m plan will be fully funded by Everton Football Club with no financial input from the city’s council and Mayor Joe Anderson and Everton CEO Robert Elstone made the announcement side by side.
Robert Elstone, Everton’s Chief Executive, said: “Over the past year, the Club has worked with the support of the Council and we are grateful for the ‘can-do’ approach that has got us to this important milestone. We are particularly grateful for the role the Mayor has played to date in our talks with Peel and for his support in this important step in the journey towards reaching a funding solution for the stadium.
“We are delighted that we have been able to agree Heads of Terms with Peel, giving us control of the Bramley Moore Dock site and allowing us the time we need to complete the substantial further work required to be able to confirm the project’s viability.
“We can now move forward into the next phase of work with much greater confidence. Clearly, it is vital we have clarity on cost and we have to recognise that the stadium will be significantly more expensive at Bramley Moore Dock. To get that certainty, and ensure the stadium is affordable, we need to confirm stadium design, capacity and configuration. And to do that, we need to talk to fans, partners and all stakeholders in the project. We’re committing to that consultation. We’re also committed to keep fans fully informed as the project develops and as other milestones are reached.
“We’re keen to stress not only the scale of the work ahead but also the remaining risks and uncertainties. We’re delighted we’ve secured the site and we’re equally delighted the Mayor is continuing to support our financing model, but significant hurdles remain, not least the preparation and submission of a detailed planning application. Receipt of a successful planning approval at some point early next year will be the most significant step towards bringing the stadium to life.”
The business case is essentially Everton taking out a large finance loan with the support of Liverpool City Council who will guarantee the redevelopment of the area around Bramley Moore Dock.
Mayor of Liverpool, Joe Anderson, said: “I’m delighted that we have got to a stage where the city and Everton can publicly share the vision for the Club’s potential new home at Bramley Moore Dock.
“I understand that creating this financial arrangement is a small step in a long journey for the Club, but it is the first step and for that reason it is a special moment in the city’s – and Everton’s – long illustrious history. If things progress as we all hope, it marks the beginnings of a new and exciting chapter.
“The proposed new stadium will be a landmark for the city’s spectacular north Liverpool waterfront and a powerful statement of intent for the Club and the city of Liverpool that will resonate globally.
“From the city’s perspective, the stadium would complement and accelerate the regeneration plans already in place for north Liverpool, much like the way our partnership with Liverpool FC in the Anfield Project did for their stadium expansion which has benefitted the wider Anfield community.”
No plans have been released as the club are still at the stage where an application is being drawn up, and Elstone added that Everton supporters would be among those consulted on the new ground move, with the Fans’ Forum expected to play a major role in communicating fans’ desires to the club.