April 07, 2020, 05:49:01 PM

Author Topic: [News]Bramley Moore Dock update  (Read 531825 times)

Offline bramley moore 1878

  • George Fleming
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Re: [News]Bramley Moore Dock update
« on: March 23, 2017, 11:59:13 PM »
In bullet points

- We've agreed to buy the land and peel have given it over to Everton.  We will pay for it and it will become ours legally upon completion of the stadium.

- The council and Everton have jointly agreed to enter into an SPV (a company created for a single purpose).  This company will go to the market to raise the 300 million with the council as the "guarantor" for the loan.

- The loan money will build our nice new stadium.

- The SPV will own the stadium but Everton will receive all revenues from running it.

- Everton will pay interest to the SPV to service the loan and also give a payment to the council for being guarantor.  This will be 14 million a year in total.

- At the end of the term (is it 30 years?) the loan will be paid off and the SPV will be dissolved. 

- Full ownership of the stadium will pass to Everton.

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