New Everton Stadium

[The binman chronicles]

The APR is 1.45% according to the reports, not sure if it's fixed though for the term.

If that is the case this doesn't sound too bad at all:

So rounding up a little it would cost 17.4 million a year for 400 million stadium.

 

[Pabbers]

I thought our 'rent' are going to be our loan repayments, like a mortgage???

And its just the land that we will have to purchase??? Which is around £30 million??

 

[nsno-chris]

I don't see how we can have the loan agreed yet if LCC have only just said they will guarantee? Unless it's all been done behind the scenes of course. That would be an unbelievable deal if true. Why would anybody lend on that basis, especially such a huge amount

The 1.45% will be the standard rate, or thereabouts, for Local Authorities. I'd imagine that a deal in principle has been agreed with a lender on acceptance by Cabinet

 

[Kev50]

The 1.45% will be the standard rate, or thereabouts, for Local Authorities. I'd imagine that a deal in principle has been agreed with a lender on acceptance by Cabinet

Yes if LCC wanted to borrow that they get to borrow v cheaply, but we can't step in their shoes can we? Or does this guarantee mean we get access to their loan rates?

 

[ToffeeTim]

£1.

Most transactions of this nature I've seen tend to be very nominal yeah. Sometimes a hundred, or a grand etc. But then I've no idea if this will be similar.

 

[truebluejersey]

I don't care that Joe Anderson is as dodgy as an Anfield derby referee.

He should be knighted for his work yesterday in winding up the RS.

 

[ham2]

A few things firstly well done farhad, proud and happy this morning.
To any kopite lurkers if you wanna know the way to the docks ask yer mar.
Finally elstones head is too big for his body.

 

[Kev50]

If that is the case this doesn't sound too bad at all:

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So rounding up a little it would cost 17.4 million a year for 400 million stadium.

Thanks
I come back then to the figures, when our add on LCCs cut we are having to find Lukaku money every year just to stand still. I know we will be in a much better stadium , but that seems like a tall order

 

[Gardocki]

If that is the case this doesn't sound too bad at all:

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So rounding up a little it would cost 17.4 million a year for 400 million stadium.

If you use 300m at 1.45 for 40 years you get 395m. That's probably where they are getting their numbers.

They hardly went to all the effort if explaining the financing structure, but then say - "oh yeah, we forgot to say that doesn't include the principal, which will infect double the annual repayments we quoted."

 

[kithnou]

So the funder is.....?
Are we not opening ourselves up to a considerable amount of vulnerability here? Peel holdings ultimately still own the land. They set a price 40 years in the future, for the remaining lease - what if that price is extortionate?

Undisclosed as of yet

 

[Pabbers]

Thanks
I come back then to the figures, when our add on LCCs cut we are having to find Lukaku money every year just to stand still. I know we will be in a much better stadium , but that seems like a tall order

Nah, your not looking at the bigger picture.

We will be making an extra £500k to £1 million per hime game.

We will sell of the naming writes for a huge amount.


Out current Finch farm and shirt deal could pay for the "rent" alone.

So any other income and Prem money could really go all to improving playing squad.

 

[KUEFC09U2]

Nah, your not looking at the bigger picture.

We will be making an extra £500k to £1 million per hime game.

We will sell of the naming writes for a huge amount.


Out current Finch farm and shirt deal could pay for the "rent" alone.

So any other income and Prem money could really go all to improving playing squad.

Think you have hit the nail on the head, as someone pointed out the sponsorship stuff adds up to roughly the "rent"

 

[Lee Smith]

Dont get caught up in the "Have to purchase it after the lease ends". Its a mortgage in spirit, but for the benefit of the parties involved, its technically a lease. That means you have have to write it like a lease. You cant just slap the word "lease" on it and then write it like a mortgage, because if it ever came to court, the court would say its obviously a mortgage. So, part of that is a lease cant end with the person now owning the property outright, unless it has an option to buy at the end of it. That option to buy, MUST, by law have "consideration". That consideration can be $100,000,000.00, or it can be $1. It doesnt matter how much it is, but it MUST be there.

I can almost guarantee you, the option to buy at the end of the 40 years is $1. I work in real estate, albeit in a different country, but most countries real estate laws are based on the same general principles.

I really hope the consideration isn't contractually agreed as $1. With the way exchange rates are going, in 40 years time that'll probably be about 7 billion GBP

 

[The binman chronicles]

Thanks
I come back then to the figures, when our add on LCCs cut we are having to find Lukaku money every year just to stand still. I know we will be in a much better stadium , but that seems like a tall order

The 17 million figure includes the LCC security amount.

You also have to think up until this season we were waxing 5 million a year on interest alone and naming rights should be at least 5 million a year. (Wouldn't be surprised though if the USM stadium rights just happen to be 17 million a year... )

So 7 million above what we have been paying doesn't sound too bad?

*not including the fact we will be making millions more through the extra capacity

 

[MrGrumpy]

Three more seasons is the plan. A must for anyone that has not been there.
Lock me in for opening day at BM

2 season and 5 homes games(I think)