Liverpool City Council will serve as guarantor for the loans required for the project, which is subject to planning consent.
A report will be presented to the council’s cabinet next Friday (31 March) recommending that the city council progress heads of terms 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.
Robert Elstone, Everton CEO, said: “Over the past year, the club has worked with the support of the council and we are grateful for the ‘can-do’ approach that has got us to this important milestone. We are particularly grateful for the role the mayor has played to date in our talks with Peel and for his support in this important step in the journey towards reaching a funding solution for the stadium.
“We are delighted that we have been able to agree heads of terms with Peel, giving us control of the Bramley Moore Dock site and allowing us the time we need to complete the substantial further work required to be able to confirm the project’s viability. We can now move forward into the next phase of work with much greater confidence.”
Mayor of Liverpool, Joe Anderson, said: “I’m delighted that we have got to a stage where the city and Everton can publicly share the vision for the club’s potential new home at Bramley Moore Dock. I understand that creating this financial arrangement is a small step in a long journey for the club, but it is the first step and for that reason it is a special moment in the city’s — and Everton’s — long illustrious history.”
The Bramley Moore Dock site is part of the £5bn Liverpool Waters scheme.
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