Have I actually got this right, I’ve just read that at the Everton AGM they said that Liverpool City Council will fund 2/3 rds of the cost of their new stadium. That is surely not right, Joe Anderson really is taking the p**s with this. Get this man out of office!
Fairly sure that Liverpool City Council will act as guarantors for 2/3rds of the loan (about £330M?!?) - not actually loan the money themselves. And for this service the council will receive £4M a year.
Now lets remember that Everton's training ground, bought by the council and 'rented' back to them (on what I believe are very cheap terms).
Big question is - why would their super billionaire not be able to a) pay for the stadium or b) act as guarantor?
I think Everton paying £500M for a stadium, when there is little or no demand for increased capacity or executive areas, is going to be a massive error and I don't want the people of Liverpool to have to bail this billionaire out when it all goes tits up.
There's a reason Liverpool invested £150M in a new stand and all its corporate stuff and why they haven't invested £40M or £50M to add capacity to the Anny Road for us mere plebs.
Public money should not be used to support a private enterprise in this way. By all means use public money for better transport links, tram networks whatever but this looks well and truly dodgy.