Everton secure alternative stadium funding to £30m council loan

Everton will not take up the offer of a £30m loan from Liverpool City Council, but will receive the £15m grant to help with keeping the historic features of the Bramley-Moore Dock site. According to Steve Rotherham via the Liverpool Echo, Everton has found alternative private funding to replace the loan.

Alternative Funding

This must mean that the club has found funding at a lower interest rate or on better terms than those offered by the council loan?

£30M, although quite a sizeable sum, is still less than 6% of the full stadium cost, but the apparent fact that Everton have been able to source this much would perhaps suggest that they have been able to secure funding for a lot more of the estimated £550M stadium cost?

Or is that just wishful thinking in these very troubled times?

Council just announced its not giving us the £30m stadium building loan….apparently we weren’t planning on taking it anyway but “in light of Russia links” City region mayor has decided to announce it a month early.

This is an utterly scumbag move by city regions, desperately trying to score some Ukraine brownie points off the back of blackening our name if needed.

Wow, that's quite some take on things there, Gary.

Is it them "not giving us” the £30M loan?

Or us not now needing the £30M loan?

And it looked like the Mayor was responding to questions from the Liberal leader, and bringing forward an announcement in response to those questions for clarity and transparency moving forward.

How does any of this constitute "Ukraine brownie points"?

How does it "blacken our name"?

Michael, the club told them they won't be taking up the offer in January, long before the invasion, because they expected to get the funds from the private sector. Although it's yet unknown who from the private sector was willing to finance this, the high probability of it involved parties linked to Russia.

I always felt that it would be near impossible for the club to get the loan from the UK or European Union, as they don't qualify for such a loan based on the large sustained losses the club has incurred over the last year.

Thanks, John, for recalling that January detail. Another point Gary conveniently ignores in his rant.

My understanding was that the club was looking to raise funds to finance the new stadium through private placements on the American markets, via JP Morgan and Mitsubishi Bank. But that's from long time ago and there's been nothing reported since.

It would indeed be extremely interesting if they had in fact gone to Russia back in January in secure funds! That really would put them in a right pickle now!!! Unless they got the funds before Putin flipped, and are now prevented from making any payments back to Russia, probably for a very long time...

It's gonna be very interesting to see exactly how long Laing O'Rourke maintain activity levels on site. I have no idea how much of the initial £100M tranche of money from Moshiri they have gotten through already (but it must be a substantial portion), and it's sounded like they have enough in the pipeline to keep them going for a while longer.

As Blue Bill once famously said: "Watch this space!"

Take the announcement with a pinch of salt, we announced in January we would not need the loan from the Council.

Brownie points yes, but only for the Council, with local elections coming up in May.

I’m just about old enough to still get a bit jumpy when the term ‘ring fenced’ is used in relation to Everton and new stadia..

Think we will be fine with the stadium Paul, will cost just over £500 Million, then we will sell it off and rent the stadium back for four times the amount, have a little more faith in Bill.

Let us just hope that Moshiri does not do a Roman, but instead of handing over his shares to the club, he hands his 94% over to Bill, until he finds a buyer, to look after.

We know we are still trying to locate the Arteta money, god help us with his grubby mitts on 94% shares.

Just browsing through the archives and found myself becoming quite sad and nostalgic over the thought of us leaving The Grand Old Lady.

I can still remember clearly the 1-1 draw with the Dark Side in September 1948, when I was in the Boys Pen (no sign of 'luvvy' Bill!) and finding out later that I was part of our record crowd of 78,299.

Then, the year after, I was in the Main Stand with my Dad (birthday treat) watching Ireland beat England 2-0 (Peter Farrell scoring the 2nd goal) to become the first foreign side to beat England in England - Hungary was the second, 4 years later. Aah Memories...

Does anybody else have happy memories of Goodison?