Everton’s new stadium will form part of Peel Holdings’ £5bn Liverpool Waters scheme.
Liverpool City Council has agreed to act as guarantor to help the club borrow the money it needs to build the stadium. A special purpose vehicle (SPV) company will be set up to enable the financing.
Everton chief executive Robert Elstone said: “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.”
Lindsey Ashworth, director of development at Liverpool Waters, said: “It’s important to remember that this is the start of a long process and we will be working very closely with Everton, Liverpool City Council and Historic England to better understand the site and develop the proposals. As the current owners, we have a level of knowledge and experience of the site which we believe will help Everton deliver not just a new stadium but a stunning addition to Liverpool’s northern waterfront.”