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Author Topic: [News]Bramley Moore Dock update  (Read 583883 times)

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March 23, 2017, 11:59:13 PM
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bramley moore 1878

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.

March 24, 2017, 12:22:36 AM
Reply #1

bramley moore 1878

The Mayor said: “Liverpool Council will have first take on season tickets, on the players themselves, on the naming rights, on the ownership of the stadium and of the television rights"

This doesn't sound that great or is it just me, appears, despite getting a billionaire owner were still not funding it ourselves and won't get all of the benefits?
Don't get me wrong I'm made up but I want my cake to have the cherry I  the top, or has it and I'm missing something?

What he's saying is that the loan debt of the SPV gets serviced FIRST from these assets, and that will be written into the terms, this just means that the rish is lowered for the city which is fair enough.