|
Post by rugbytoffee on Mar 7, 2022 14:10:50 GMT
Everton secure alternative stadium funding for £30M council loan
Questions have been asked about the status of the £45M local authority funding package, including a £15M grant and a £30M loan to help with overall costs of Everton's new stadium project at Bramley-Moore Dock.
But today it has been revealed that Everton had already decided not to take up the offer of the £30M loan from the Liverpool City Region Combined Authority after it found alternative sources of funding.
Metro Mayor Rotheram said this was set to be announced in April, but he has responded now in light of questions arising from the Russian invasion of Ukraine.
Metro Mayor Steve Rotheram and his team were questioned on the status of the funding package by Liverpool's Liberal Democrat leader, Cllr Richard Kemp.
In response, a statement from Mayor Rotheram said: "I was pleased to see Everton Football Club take decisive action to close sponsorship arrangements with Russian companies following Vladimir Putin's invasion of Ukraine.
"In September 2021, the Liverpool City Region Combined Authority (LCRCA) approved funding to Everton Football Club for a £15m grant and £30m loan to support work connected to the new stadium project at Bramley Moore Dock.
"As one of the largest construction projects in the North of England, coupled with long-term commitments to regenerate the local area, the LCRCA supported the scheme on the basis that it could be the catalyst for much-needed regeneration of communities across North Liverpool and South Sefton.
"As with all applications for LCRCA funding, bids are independently assessed and must go through a full business case process. The conditions of the funding must be in line with our assurance framework, which has been agreed with central government, and our investment strategy. It is only once these strict criteria are met that any application comes before the political leadership of the LCRCA for consideration.
"In this case, more than 2 years' worth of planning and due diligence was carried out, with local leaders assured that the benefits of this project outweighed the risks and mitigation against risk was factored into the structure of the deal.
"However, in January 2022, Everton notified the LCRCA that it had found alternative sources of funding from the private sector and would therefore no longer require the £30m loan.
"I believe the fact that Everton had to go to the private sector to secure better terms is testament to the competitive nature of the deal struck by the LCRCA. Notification of this change was due to be brought to the April meeting of the LCRCA, however, due to public interest in the deal following sanctions on Russian business interests in the UK, we have sought to bring this announcement forward.
"The Liverpool City Region Combined Authority remains in contact with Everton about the next steps on the £15m grant, which is intended to preserve the historical assets of the Bramley Dock area, support the wider development of the site, create jobs for local people, and attract visitors to the region.
"However, as with the loan the applicant for the funding is Everton Football Club (not any parties associated with it) and all funding will be ringfenced solely in support of the activities listed above."
|
|
|
Post by evertontillidie on Mar 8, 2022 15:43:10 GMT
The best ground in the Championship maybe How can we afford to build if we go down?
|
|
|
Post by rugbytoffee on Mar 11, 2022 12:37:02 GMT
The construction of Everton's new 52,888 seater stadium at Bramley Moore Dock has been handed a significant boost, with the club set to seal a deal to fix construction costs for the build.
Ground was broken back in August 2021 for the £500m build, but with rising costs of raw materials as a result of the Russian military invasion of Ukraine causing concern that the price could rise significantly the club are close to signing a deal that would provide them some financial surety over the project.
The ECHO understands that club have agreed a deal with its construction partner Laing O'Rourke to fix the price for the provision of the steel to build the new stadium for the duration of the project.
The fixed price means that the concerns over the continuing crisis involving Russia and Ukraine driving steel prices higher have abated and enables the project to move forward without the threat of a potential spike in the price of steel impeding its progress.
Everton are understood to be hopeful of official sign off on the agreement with Laing O'Rourke next week.
It is a welcome piece of good news for the Blues in what has been a tumultuous couple of weeks at Goodison Park, with the club already impacted by the invasion of Ukraine after having to suspend its ties with club sponsors USM Holdings and MegaFon due to the EU sanctions imposed upon Alisher Usmanov.
|
|
|
Post by Everton News. on Mar 30, 2022 11:31:49 GMT
The scale of Everton’s new stadium is now there for all to see following the installation of the fourth core, representing the four corners of the stadium.
The first pre-cast concrete wall has been lowered into place in the south east corner of Bramley-Moore Dock, offering a tantalising glimpse of the sheer size of the iconic waterfront build.
The above-ground construction is now well under way on all four edges, with the Laing O’Rourke team delighted at the progress being made.
“This is a huge milestone for us,” beamed Laing O’Rourke Project Engineer, David Jackson.
“There are four main cores in the stadium, and we started in the north stand and then in the south west corner and now, finally, the south east corner of the building, which is the final stage of getting up and out of the ground.”
The pre-cast elements of the concrete core are all manufactured off-site by Laing O’Rourke at its Centre of Excellence for Modern Construction (CEMC) in Nottinghamshire. Manufacturing in this way removes potential quality and safety issues by taking the process into a more controlled environment, minimising waste, which has sustainability benefits.
And the initial 9m, 12 tonne section installed in the south east corner marks the moment when fans and workers alike can truly visualise the bigger picture.
Jackson added: “The four cores essentially provide a lot of stability to the entire stadium and the wall that went in today is one of the larger walls we have on the project.
“It’s a huge project and now that the four cores are up and running, soon enough we will see some steel going up in the north, along with starting slabs on the east and west stands, so it’s quickly going to start taking shape.
“It’s hard to believe that this was still a working dock when we started on site last August. That’s now a distant memory and we have achieved so much in a short period of time.
“It’s really exciting to see the stadium coming to life and we are really pleased with the way it’s going.”
Everton FC
|
|
|
Post by Everton News. on Mar 30, 2022 11:32:40 GMT
|
|