Liverpool council approves funding model for Everton's new £300m stadium

Plans to build a new £300m, 50,000 seater stadium for Everton Football Club have taken a major step forward after Liverpool City Council approved a finance model to help fund the project.

During a meeting on Friday (March 31st), the cabinet gave the go-ahead to create a new Special Purpose Vehicle (SPV) company which will take a lease of the stadium from a funder and, in turn, sub-lease it to the club.

Under the finance structure of the SPV, the council will not provide any finance for the new stadium and will benefit from an annual security fee payable by the club in return for the council’s participation.

The new stadium is also expected to boost economic regeneration and job creation in north Liverpool, complementing the council’s proposed £100m regeneration drive in the surrounding area, which includes a new Cruise Liner terminal and the recently launched masterplan for the Ten Streets area.

Earlier this month, Everton agreed to acquire a site at Bramley Moore Dock from landowner Peel Holdings. This will be where the Premiership club’s new ground will be located.

Joe Anderson, Mayor of Liverpool, said: “This deal is a great step forward for Everton and it’s a great deal for the city of Liverpool.

“This new stadium has the potential to kick-start the regeneration of the area and will provide a massive boost to the city’s economy.

“The ball is now in Everton’s court to sort the finance package and design a stadium that will make the world sit up and take notice.”