New Everton Stadium

[Neiler]

Think they said the price is locked in at £550m.

A 50 mill contingency mate.

I still think there is much we dont know about the costs, id like to see the detail of the much publicised deal with Laing the club announced. I thought it was cleverly worded, it didnt say they locked in "fixed costs" but had "greater certainty" around costs. Perhaps this a mechanism around inflation.

To be honest i dont see any contractor (let alone Laing) worth their salt out there giving a project fixed pricing currently as the steel and concrete market are so volatile at the moment perhaps the agreement is a fixed inflationary adjustment of %.

Dont mean to be a downer about the deal agreed, but if a deal is to good to be true it usually is, despite the publicity around it, cant help but think its less about fixing the cost and more about agreeing the % of how much the costs can increase in a volatile market.

 

[Neiler]

I wonder if the USM Naming Rights deal is still on the cards?

I imagine come the time the stadiums finished the conflict in Ukraine will have (hopefully) come to an end and the political atmosphere around Oligarchs/Russian businesses with have subsided enough for the club to hop back into bed with Uncle Usmanov officially.

I still believe him/Mosh Man are in it for the long term - same way I think Moshiri **leaving** USM was more a publicity stunt than him suddenly realising Usmanov isn't squeeky clean and walking away considering he's been his bag man for decades.

In my experience mate, greed always wins. With all sponsorship arrangements paused, i think as you say all is on the table.

 

[malfosse]

A 50 mill contingency mate.

I still think there is much we dont know about the costa, id like to see the detail of the much publicised deal with Laing the club announced. I thought it was cleverly worded, it didnt say they locked in "fixed costs" but had "greater certainty" around costs. Perhaps this a mechanism around inflation.

To be honest i dont see any contractor (let alone Laing) worth their salt out there giving a project fixed pricing currently as the steel and concrete market are so volatile at the moment perhaps the agreement is a fixed inflationary adjustment of %.

Dont mean to be a downer about the deal agreed, but if a deal is to good to be true it usually is, despite the publicity around it, cant help but think its less about fixing the cost and more about agreeing the % of how much the costs can increase in a volatile market.

I did read that the original price of £500m was an overestimation to factor in any increase in price.
The caveat being that Everton do have recent history of "massaging" figures.
For the GoT lawyers I'd like to add allegedly.

 

[blulouie]

From DBB's club statement last week.
Looks like it was already in the pipeline.

 

[Neiler]

I did read that the original price of £500m was an overestimation to factor in any increase in price.

I know every project is different mate, but does 500 - 550 mill not seem on the lower end of the scale to you. Im thinking of other recent projects, Spurs stadium was 1 billion, the projection to redevelop Old Trafford is the same, they are bigger grounds mind.

 

[maccavennie]

I know every project is different mate, but does 500 - 550 mill not seem on the lower end of the scale to you. Im thinking of other recent projects, Spurs stadium was 1 billion, the projection to redevelop Old Trafford is the same, they are bigger grounds mind.

I would say the project being down South would increase the costs massively, plus that stadium was definitely geared towards hosting major NFL events so I should imagine the corporate sections in that stadium will be 5 times in size compared to how many we are having.

 

[Neiler]

The other thing to consider is if we are borrowing 300 mill, a key piece of detail will be the conditions in the loan agreement and repayments. As a business we loose money hand over fist, 121 mill losses last year, this is going to be another cost - however the devil will be in the detail. The hope of course is the repayments will be offset by the increased revenue of a new ground, but new revenue really will mean price hikes, lets be honest. Though there could be a lag from when the repayments will need to be made and when the stadium opens.

Anyone remember the old seculisation deal, the 25 year mortgage with Prudential, 30 mill loan, but 68 mill to be paid back, that dipped into our pockets every year and at times was quite limiting.

 

[Frenk]

Did the club really say that?

I hope they let mister drone continue, his videos are ace, I really appreciate his effort and work.

The new stadium means a lot to Everton fans and me, so it’s only natural we want to be updated, all the time if it’s possible.

It is possible, it just needs sorting fast which is also possible. So come on Everton please sort it.

There was a mention of it regarding the clubs installation of a webcam. I think this was referring to possible dangers in regards to a live feed, so this would not affect drone footage like the ones these awesome people have been producing.

 

[Mrtallywacker]

The clue's in the name: The Everton Stadium website.

Indeed my son, calling it 'The Everton Stadium at Bramley Moore Dock, Regent Road, Liverpool website' would be a bit of a mouthful.

God bless.

 

[Del-boy]

Let’s just hope we haven’t sold the stadium off to a third party to help finance it. Pretty sure Coventry did something similar at the Ricoh arena and the rent constantly going up. Left them in a right mess.

 

[The binman chronicles]

A 50 mill contingency mate.

I still think there is much we dont know about the costs, id like to see the detail of the much publicised deal with Laing the club announced. I thought it was cleverly worded, it didnt say they locked in "fixed costs" but had "greater certainty" around costs. Perhaps this a mechanism around inflation.

To be honest i dont see any contractor (let alone Laing) worth their salt out there giving a project fixed pricing currently as the steel and concrete market are so volatile at the moment perhaps the agreement is a fixed inflationary adjustment of %.

Dont mean to be a downer about the deal agreed, but if a deal is to good to be true it usually is, despite the publicity around it, cant help but think its less about fixing the cost and more about agreeing the % of how much the costs can increase in a volatile market.

Perhaps we've ordered all the steel we need at a certain price now thus allowing the total cost to be 'known'.

 

[PhilEFC]

Perhaps we've ordered all the steel we need at a certain price now thus allowing the total cost to be 'known'.

Our company is having to deal with similar issues now. We’ve agreed to do work for set prices, so that means our margins will be reduced, and unless the Client is willing to renegotiate, there’s not much you can do about it.

Good business by the club.

 

[davek]

Indeed my son, calling it 'The Everton Stadium at Bramley Moore Dock, Regent Road, Liverpool website' would be a bit of a mouthful.

God bless.

They're not though. It's simply The Everton Stadium. You might as well say The Everton Stadium, Liverpool as The Everton Stadium, Bramley Moore Dock.

An Everton source also told LiverpoolWorld that: “The site will not be called the Bramley-Moore Dock Stadium, it is going to be named something else."

...yes, The Everton Stadium...until the sponsorship deal is in place and then it'll be the '<insert Multinational company name> Stadium'.

Bramley Moore is a name in disgrace. It wont have any part to play in this stadium name or descibing its location when or if it comes off.


You're welcome.

 

[Jacko93]

A 50 mill contingency mate.

I still think there is much we dont know about the costs, id like to see the detail of the much publicised deal with Laing the club announced. I thought it was cleverly worded, it didnt say they locked in "fixed costs" but had "greater certainty" around costs. Perhaps this a mechanism around inflation.

To be honest i dont see any contractor (let alone Laing) worth their salt out there giving a project fixed pricing currently as the steel and concrete market are so volatile at the moment perhaps the agreement is a fixed inflationary adjustment of %.

Dont mean to be a downer about the deal agreed, but if a deal is to good to be true it usually is, despite the publicity around it, cant help but think its less about fixing the cost and more about agreeing the % of how much the costs can increase in a volatile market.

This is how a lot of large construction projects are contracted. Its called GMP, guaranteed maximum price. That doesn't however account for any changes, such as design alterations. If there is a design change by a client side party, then that change is priced separately and invoiced. That's why they can't say 'locked in' or won't pay more than.

Steel and majority of materials would have been purchased by now and prices accounted for, hence the ability to set GMP. Material price fluctuations will only be a factor on design change.

 

[Marcus Halberstram]

the Vanguard or BlackRock Stadium. Pfizer as the shirt sponsor.