The costs to build Everton FC’s new stadium at Bramely Moore Dock in Liverpool look set to rocket from the £300 million initially suggested.
The club has confirmed that the costs of their proposed stadium at Bramley Moore have “escalated significantly” while the date of completion has also been pushed back to the start of the 2022-23 season.
In November last year, Everton FC took a step forward in their plans to build the new stadium by agreeing a 200-year lease at their preferred site on Liverpool docks.
Everton Stadium Development and Peel Land and Property formally signed an agreement for the Club to lease land at Bramley Moore Dock, Liverpool Waters.
The lease, which is conditional upon gaining planning consent for the proposed new stadium and securing funding for its construction, will run for a period of 200 years at a peppercorn rent.
But club chief executive Robert Elstone said in his programme notes for the match against Manchester United on New Year’s Day that the funding target for the new stadium has escalated significantly. He said:
[It]…has occupied much of our efforts of the past 12 months. The premium for the waterfront site, an ambitious capacity that we will test with more rigour, a design we can all be proud of and the simple but painful impact of inflation, have all contributed to an increased overall cost and a funding target which continues to grow.
It’s a challenge that has always had the full support of Liverpool city council and throughout 2017 we have been totally committed to finding a funding arrangement that works for the club and the city. We have needed to be patient as we work together to ensure the ‘checks and balances’ that underpin such a deal are in place and whilst we ‘detoured’ temporarily pursuing the prize of hosting the Commonwealth Games, as we start the new year, both parties feel we are near to agreeing a framework that works.
Elstone also said that preparatory works on the dockland area would add a one-fifth premium to the cost of the Bramley Moore Dock site. He added:
We believe the commercial returns from naming rights, sponsorship, higher attendances and greater use on non-matchdays will recoup that premium.
It is a process not without challenge. Bramley Moore Dock sits within a world heritage site with several historically significant features and our designs must respect the heritage and culture of the city’s northern docks. Our planning case will be enhanced with impressive legacy plans for our existing home at Goodison Park. Our hope, and our target, is the opening game of the 2022-23 season. Be assured that all our efforts during 2018 will be focused on meeting this challenging but achievable target.
Funding and planning permission are expected to be in place in early 2018, along with publication of the stadium designs by Meis Architects.