Thank You Bill Kenwright Plane Banner

[Ihaters]

The fume from answering why I thought the plane may of been launched is both amusing arious and yet sadly typical.

Anyone that reckons Bill's done a reasonable job most likely

Ah.. not me then, thought he was one of the knee jerkers assuming I was pro Bill because of that post.

 

[Dithering Dougie]

Been to the Arena once, felt like slitting me wrists

I'm sure many people now see that as a real missed opportunity Changy.

 

[Foot Long Hot Dog]

I'm sure many people now see that as a real missed opportunity Changy.

Is that the Echo arena that cost £164m to build? For a 12,000 seater venue....

When the KD 55k arena complete with retractable pitch et al, was 'budgeted' to come in at £60m?

It was always woefully under costed and the £30m for 50% was never going to be even remotely enough to see it actually come to fruition.

 

[Dithering Dougie]

Is that the Echo arena that cost £164m to build? For a 12,000 seater venue....

When the KD 55k arena complete with retractable pitch et al, was 'budgeted' to come in at £60m?

It was always woefully under costed and the £30m for 50% was never going to be even remotely enough to see it actually come to fruition.

Yeah, but some people still believe it was an actual offer and it would cost us a pittance for a world renowned stadium and the council then knocked up a successful and more expensive plan b in a few hours over a couple of lattes and kumquats..

So gullible some people.

 

[Chang Elephant]

When the KD 55k arena complete with retractable pitch et al, was 'budgeted' to come in at £60m?

£60M ? Where does this psychological need to rewrite history come from. At least Dougie admits to being dithering so has an excuse. We weren't paying 50% of the costs lads, which is why it was a massive own goal by your Glorious Leader:

The stadium part of the development on the Kings Dock would cost £155 million with up to £30 million generated by Everton FC and approximately £35 million coming from the public sector. The rest of the cost will be met by private investors and sponsorship, with the total cost of the project topping £300 million.

 

[Foot Long Hot Dog]

£60M ? Where does this psychological need to rewrite history come from. At least Dougie admits to being dithering so has an excuse. We weren't paying 50% of the costs lads, which is why it was a massive own goal by your Glorious Leader:

Pardon me, I assumed that Everton were going to own 50% of the project, so it was only ever going to be 20% then?

But even at that, £155m for a 55k stadium with retractable pitch and roof et al for £9m less than it cost for the 12k Echo arena to be finished 3 years after the planned finish date of KD? So my point about it being woefully under costed was wrong then?

 

[Kiwi]

Thanks for asset stripping the club and burdening us with massive debts.
Thanks for taking the club to glory in those preseason trophy wins.
Thanks for being a blue and fighting the good fight against foreign investors who would have put money into Everton as you were unable to.
Thanks for your commercial expertise in getting only the best deals for our historied club.

Thanks Bill, NSNO.

No thanks for Bobby and Moyes though, can't get everything right I guess.

Still this...

 

[Big Neville Southall]

Re the Kings Dock, I really don't think the spec would have been as high as they sold it to us as being. Surely if you're struggling to get the money together the next thing you would have done would be to lower the spec, but they didn't they just ended it.

People say that Kenwright lied over the quality of Kirkby and lots of stuff over the deal came out from fans in time, is it not highly likely that some things would have been the same with the Kings Dock?

 

[Ihaters]

£60M ? Where does this psychological need to rewrite history come from. At least Dougie admits to being dithering so has an excuse. We weren't paying 50% of the costs lads, which is why it was a massive own goal by your Glorious Leader:

Mind you imagine our squad at the start with 30m less investment

 

[The Esk]

Pardon me, I assumed that Everton were going to own 50% of the project, so it was only ever going to be 20% then?

But even at that, £155m for a 55k stadium with retractable pitch and roof et al for £9m less than it cost for the 12k Echo arena to be finished 3 years after the planned finish date of KD? So my point about it being woefully under costed was wrong then?

The way it was to be funded was as follows:

Equity — £60M Everton FC will put up £30M for 50% of the equity

EU Objective 1 — £35M Funded as a Merseyside-wide contribution from the European Regional Development Fund element

Development Receipt — £40M An estimated contribution from the various private developers who would have taken on the non-arena elements of the project

Waterfront Arena Company Bond — £20M EFC will own 50% of a company taking out a long-term debt of £20M. This company would also have to fund any shortfalls above or over runs on costs

Undeniably Everton demonstrated that they were unable to come up with the £30 million, but none of the other elements were ever confirmed either.

As you say, even at 2003 prices £150 million for the whole development was a very small sum of money - totally undo-able in my mind.

 

[Prevenger17]

Our board has got lucky with 2

Come on now, Boris. Let's at least be reasonable.

 

[Prevenger17]

I hate it when the Esk starts talking finance. I feel even stupidlier den usual.

 

[roydo]

I hate it when the Esk starts talking finance. I feel even stupidlier den usual.

We have him run the rule over the Mods Hobnob Biscuit Fund from time to time. All good I am happy to report.

 

[boris]

Come on now, Boris. Let's at least be reasonable.

There's an element of luck to any managerial appointment and any transfer.

For example who would of thought LVG would have failed to work out or the Di Maria transfer would go pear shaped.

Mourinho's an outstanding manager, possibly the worlds best but would he be a nailed on success if he took over at United. I certainly wouldn't be betting big money on them winning the major trophies and that's the world best manager with the worlds biggest club and lots of money. All the ingredients are there but you still need that bit of luck.

 

[The Esk]

The striking (but perhaps not surprising) thing between the Kings Dock project and the muted WHP project is the similarities in proposed financing arrangements, now as then none of the parties have the funds to bring to table.