Everton announce financial agreement for new stadium site

Moments ago, Everton Football Club made one of the biggest announcements in their storied history, confirming the pending purchase of Bramley-Moore from Peel Holdings.

The city council is set to approve the stadium plans, and will not be contributing financially.

The new ground, not including work on the property itself, is expected to cost around £300 million. The project will be fully funded by the club, which they describe as an “innovative’ financial process.

As it stands, the club will lease the new facility, and be given the option to purchase it outright after a period of 40 years.

Everton’s chief executive, Robert Elstone, hinted that planning approval could come in early 2018.

We are delighted that we have been able to agree Heads of Terms with Peel, giving us control of the Bramley Moore Dock site and allowing us the time we need to complete the substantial further work required to be able to confirm the project’s viability.

We can now move forward into the next phase of work with much greater confidence. Clearly, it is vital we have clarity on cost and we have to recognise that the stadium will be significantly more expensive at Bramley Moore Dock. To get that certainty, and ensure the stadium is affordable, we need to confirm stadium design, capacity and configuration. And to do that, we need to talk to fans, partners and all stakeholders in the project. We’re committing to that consultation. We’re also committed to keep fans fully informed as the project develops and as other milestones are reached.

We’re keen to stress not only the scale of the work ahead but also the remaining risks and uncertainties. We’re delighted we’ve secured the site and we’re equally delighted the Mayor is continuing to support our financing model, but significant hurdles remain, not least the preparation and submission of a detailed planning application. Receipt of a successful planning approval at some point early next year will be the most significant step towards bringing the stadium to life.

There can be no clearer statement of intent from the club for the future. Farhad Moshiri’s era is well and truly underway, and the club’s ambition continues to rise. With Moshiri and Ronald Koeman on board and European qualification on the horizon, the next few years promise to be thrilling for Blues fans.