The combined authority said it is considering a grant of up to £15m to help with infrastructure work for public space around Bramley-Moore Dock, and a loan of up to £30m towards the construction of the stadium.
The proposed loan would offer a return on investment with interest, which the combined authority could use to fund other projects.
If the plans are approved at a committee meeting on 24 September, then the money will be granted – provided Everton FC meets certain conditions. That includes targeting local spending, engaging with the local community, leading on health and wellbeing campaigns in North Liverpool, employing local residents and offering apprenticeships and creating sustainable programmes for skills education. Everton would also redevelop its current home, Goodison Park.
In a joint statement, Liverpool City Region Metro Mayor Steve Rotheram, Halton Council leader Cllr Mike Wharton, Knowsley Council deputy leader Cllr Louise Harbour, Liverpool Mayor Joanne Anderson, Sefton Council leader Cllr Ian Maher, St Helens Council leader Cllr David Baines, and Wirral Council leader Cllr Janette Williamson said:
“This is not an investment in a football club but in an important project that will generate a myriad of social and economic benefits for communities across our region. From creating thousands of jobs, training and apprenticeship opportunities for local people, attracting hundreds of thousands of new visitors to our region and launching programmes that will help to tackle health and social inequalities, whilst supporting the vulnerable within our communities.
“The financial returns generated from this investment will ensure that we are able to invest in further regeneration projects and services across the city region. Given austerity and the financial constraints that local councils continued to face, this is an innovative way of generating new money and investing to improve our region.”
Constructing the new 52,888-seat stadium is a £500m project that will take three years to build. The combined authority said it believed the project would act as a catalyst towards regenerating Liverpool’s north docks.
The new Everton stadium is part of Peel L&P’s £5bn Liverpool Waters project. Everton FC estimates that when the stadium is complete, it will attract 1.4m visitors to Liverpool and boost the city’s economy by £1.3bn. Laing O’Rourke is the lead contractor on the project. Pattern Design is the architect, with Planit-IE acting as landscape architect. CBRE is the planning consultant for the scheme. Yorkshire-based Severfield is providing the steel for the project.