General Meeting 09.01.2018

[BlueToff]

Well what do we have to show for it?

We still don't have a design or a cost estimate because they wasted time on the commonwealth games bid.

Bill confirmed it is going to cost £500m. Liverpool Council will cover/guarantee the funding for two thirds of it. The designs have been seen by the people who currently matter. When they are ready, they'll be put to the fans.

Capital debt is being paid by EFC. Council's role is to facilitate access to the lower interest loans.

LCC pays nothing and earns £3m a year from EFC.q

 

[ctbaz]

Bill confirmed it is going to cost £500m. Liverpool Council will cover/guarantee the funding for two thirds of it. The designs have been seen by the people who currently matter. When they are ready, they'll be put to the fans.

Capital debt is being paid by EFC. Council's role is to facilitate access to the lower interest loans.

LCC pays nothing and earns £3m a year from EFC.q

I'm assuming over the length of construction the 500m price tag will end up being 550-575

 

[BlueToff]

This may have slipped under the radar...

Well of course it would be?

The Santander loan was borrowed against the remaining Stones money, which is coming in this summer.

It basically gave us an extra £13.5m for us to spend this window, if required, which following our massive summer spree, will help.

 

[Neiler]

You're not disappointed that we have wasted a year on the stadium project with little to show for it besides a vastly increased expected debt load to pay for it?

Not really, we exchanged contracts on the site, I’d rather get it right then done quickly it’s our home for the next 100 years in that time people won’t be talking of the great delay of 2017, not that such a thing exists.

 

[macdog]

Who needs a DoF when you can get a good witch doctor? And can he please please please but a whopping big curse on the RS?

 

[Toast]

Who needs a DoF when you can get a good witch doctor? And can he please please please but a whopping big curse on the RS?

The voodoo story is on BBC website now.
Couldn't make this up.

Never change Everton.

 

[Runcornblue52]

Voodoo mate

Ye of little faith.....I have it on good authority that WE (Everton ) have purchased TWO lucky dip tickets for the upcoming National Lottery draw ......

 

[BlueToff]

Also, this @Efcjake

LCC will borrow the two thirds of the cost, as they are a Gov body and this can be easier to obtain.

They'll then hand that to Everton to fund 2/3rds. This saves Everton money.

The club will then repay the loan to LCC, who make money.

 

[Azza]

Well of course it would be?

The Santander loan was borrowed against the remaining Stones money, which is coming in this summer.

It basically gave us an extra £13.5m for us to spend this window, if required, which following our massive summer spree, will help.

I understand about the Santander loan as that was confirmed when it was taken out in the arrangement documents, but the ICBC credit wasn't so clear when the arrangement was made.

 

[mccole]

Papa Romelu

 

[Neiler]

Two things, one of substance, one of presentation:

Substance - there is a need for clarity on funding vis-a-vis LCC...and the chuckle heads in charge tonight failed to provide it.

Presentation - our club's owner has dragged the name of the club into the gutter because he couldn't hold his ale/tongue *delete as appropriate*.

Two thirds is coming through the SPV, I agree on the remainder it doesn’t take a rocket scientist to work out our contribution will be debt. The specifics of that of course need to be scrutinized, you know my approach to the vital ness of a new ground.

Wasn’t personally offended by anything he said to be honest, he is not a silly man, maybe a smart man pretending to be silly.

 

[ChesterBlue]

Please tell me this wasn't as awful as it sounds?

 

[Boss_Rarkley]

How do people know the voodoo story isnt genuine? For all we know his mum very well might have told Rom this and he said this during a discussion.

I actually dont mind Mosh, apart from his "unexpected loss" comment he's done alot more than Bill Kenwright ever has or can do and more than half the leagues owners.

 

[BlueToff]

I understand about the Santander loan as that was confirmed when it was taken out in the arrangement documents, but the ICBC credit wasn't so clear when the arrangement was made.

I'm not worried about the money side of it.

We will just have to be much more careful with it than in the summer. We have to find approx £180m from somewhere for the stadium.

If that means taking out a credit facility to ensure we can spend big if needed, while still progress the stadium, so be it. It pays for itself.

 

[deipnosophist]

..... I can only assume Mrs. Lukaku went to another witch doctor for a second opinion, who told her he should actually sign for Man U?

Mrs Lukaku was probably in two minds as to which doctor's advice young Rom should heed.