New Everton Stadium

[Frang]

The only facts that were available were pre Andersons latest comment....so you itk ?

definitely not. but i have a good understanding of what is happening here.

 

[Frang]

Or maybe the council want a piece of the stadium ?

to do some athletics in ??

oh...

 

[davek]

Or maybe the council want a piece of the stadium ?

That's a commitment way beyond what Joe Anderson can deliver.

 

[chippy1722]

I don’t know one single person who actually likes Joe Anderson and this will make him even more unpopular. If this was them across the park there would be an outcry so I expect an even bigger one because it’s us.

Marches all over the place.

 

[Lee Smith]

I may be missing something here, but, if as it now appears, LCC are now lending the money to EFC directly, as opposed to just acting as guarantors via the original SVP arrangement, then nothing has actually changed that much. In fact, this could be a more benefital arrangement for both EFC and LCC, with LCC using their access to low rate loans which they will then in turn re-loan to EFC at a higher rate.

By cutting out 'the middle man', LCC will make even more money as they will receive the interest payments instead of just their 'service fee' or whatever you want to call it for acting as guarantor. Also, the interest rate will be lower for EFC than going through a private lender.

Also the risk to LCC hasn't increased at all either, as if in the unlikely event that EFC go belly up, they would have been liable for the debt as a guarantor anyway.

I've heard people say "how can LCC afford to lend EFC £300m??!! What about the homeless!" etc. But it's not as simple as that. LCC can't simply borrow money and fund these community projects, because how will LCC repay the loan? BUT, if LCC do this deal with EFC, it will bring in additional funding each year which could then be used to fund such things. Struggling to see how this can be seen as a bad deal for anyone in all honesty.

 

[Frang]

I don’t know one single person who actually likes Joe Anderson and this will make him even more unpopular. If this was them across the park there would be an outcry so I expect an even bigger one because it’s us.

Marches all over the place.

I'm quite certain the people of Liverpool will want to know why a billionaire businessman is intent on putting a huge financial burden on the city's council at time it really can ill afford.

 

[The binman chronicles]

if everything was so simple then why isn't this up and running?? 2 years he's been at the helm, and he was looking into things for 18 months before coming onbaord, id assume he was looking in to stadium related things.

Well that bit was simple, looks like we have got the 300 million from the council it is now down to trying to find the rest. My bet is on a USM tie in and we may have a transfer embargo (sell to buy) for 2 years and then it is on to building the thing.

 

[Frang]

Well that bit was simple, looks like we have got the 300 million from the council it is now down to trying to find the rest. My bet is on a USM tie in and we may have a transfer embargo (sell to buy) for 2 years and then it is on to building the thing.

if USM were to be involved then they already would be. why the need for a statement from Elstone last night saying that they 'hope' to secure funding.

he could have said we are very confident, esp if USM are involved.

 

[The_La]

Quite shocked by the new development in terms of the loan. Think Joe will have much more of a problem selling this one to the cabinet.

 

[Frang]

Quite shocked by the new development in terms of the loan. Think Joe will have much more of a problem selling this one to the cabinet.

people were up in arms over the original announcement. when the council were not actually financially involved, as in actually lending us the money direct.

 

[The binman chronicles]

if USM were to be involved then they already would be. why the need for a statement from Elstone last night saying that they 'hope' to secure funding.

he could have said we are very confident, esp if USM are involved.

That probably covers half the funding gap. He still needs to find 80 odd million I reckon. But if they don't find that the capacity will be lowered and they will build regardless.

 

[Azza]

Quite shocked by the new development in terms of the loan. Think Joe will have much more of a problem selling this one to the cabinet.

Guess it depends on how much LCC will make from it.

 

[Frang]

That probably covers half the funding gap. He still needs to find 80 odd million I reckon. But if they don't find that the capacity will be lowered and they will build regardless.

sounds absolutely terrific that.

 

[davek]

I've heard people say "how can LCC afford to lend EFC £300m??!! What about the homeless!" etc. But it's not as simple as that. LCC can't simply borrow money and fund these community projects, because how will LCC repay the loan? BUT, if LCC do this deal with EFC, it will bring in additional funding each year which could then be used to fund such things. Struggling to see how this can be seen as a bad deal for anyone in all honesty.

But they as an authority would be borrowing it and leaving themselves open to likely interest rise payments on it. They'd have to pass that onto the club and therefore increase our debt. That's all besides being politically ridiculous to try and sell. It's no-go now. All parties have to recognise that.

Great idea, great location, but poor execution of a plan because Moshiri wanted the public sector to take the hit and get a free ride...as all business people do.

 

[blulouie]

to do some athletics in ??

oh...

Dont get why theres a change in tack from LCC or indeed Everton.
Cant see it being more benefit to either from the previous plans.