Everton's Bramley-Moore Dock: Loan plan to cost council £300k

Work is under way to build the new stadium at Bramley Moore Dock

Liverpool City Council is to lose more than £300,000 in fees over a proposed loan to Everton for a new stadium.

Everton will pay £502,000 of the £841,000 incurred by the council in due diligence while drawing up a funding plan for the Bramley Moore project.

The club eventually secured funding from alternative sources.

In a joint statement, the club and council said an "amicable settlement" had been reached, which was "reasonable and proportionate".

The Local Democracy Reporting Service said the agreement stated that the Premier League club would pay the majority of the costs as the work was "solely for the benefit of Everton".

A proportion of the fees payable by the council related to the potential use of any future stadium in a bid for the 2022 Commonwealth Games.

The settlement will not further impact the council's finances as an amount was been set aside during the 2022-2023 budget process.

The council considered lending money to Everton for its new stadium

During April's cabinet meeting, the Labour-led council's deputy mayor Jane Corbett said the agreement resolved "one of a number of outstanding finance issues".

However, it was criticised by Liberal Democrat councillor Kris Brown, who said that "while it's good to see the council reclaiming something from this sorry saga with Everton, we've effectively thrown £339,000 down the drain".

"For a council that is cash strapped... to lose out on over £300,000 in this Everton loan affair is just another kick in the teeth," he added.

The agreement was confirmed as the first 18-tonne column of steelwork was installed at the new stadium at Bramley-Moore Dock.

Steve Farden, structural principal engineer for Laing O'Rourke, said it was a "huge milestone for the project".

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