Everton stadium plans approved by Liverpool City Council

Given green light to borrow money needed for £300m ground at Bramley-Moore Dock

Liverpool City Council have approved Everton’s plans for a new ground at Bramley-Moore Dock in Liverpool. Peter Byrne/PA

Liverpool City Council have approved Everton’s plans for a new ground at Bramley-Moore Dock in Liverpool. Peter Byrne/PA

 

Everton’s plans for a new stadium have cleared the first hurdle after Liverpool City Council approved the establishment of a scheme to help with funding for the project.

The cabinet met this morning and rubber-stamped a report which agreed to the setting up of a special purpose vehicle (SPV) which will allow the club to borrow the necessary money, guaranteed by the council, to finance the new £300million-plus ground at Bramley-Moore Dock.

Everton can now begin the planning process which will potentially lead to the submission of a formal planning application by the end of the year.

The cabinet report claims a new stadium will bring a forecasted £9million in economic benefits to the city annually and could play a part in its Commonwealth Games bid, for either 2022 or 2026.

There will be no financial outlay towards the project by the council but its involvement in supporting the funding model will bring in a £4m-£5m annual security fee.

According to the report “EFC intend to use the stadium move to facilitate a vital legacy project at Goodison Park, delivering health, education, affordable housing and public spaces for the local community”.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.