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Denise Barrett-Baxendale gives Everton new stadium funding update

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Denise Barrett-Baxendale has provided an update on Everton's funding opportunities for their proposed Bramley-Moore Dock stadium.

The Blues submitted an updated planning application to Liverpool City Council in September for the project, and are awaiting determination from the organisation.

The club is confident that their proposals will be approved and that building work on the waterfront site will get underway in the first half of 2021 if so.

And speaking at Everton's General Meeting, taking place virtually for the first time ever due to the coronavirus pandemic, the Blues chief executive provided an update on the progress made on the project over the last year.

Barrett-Baxendale opened up on an agreement with contractors Laing O'Rourke in December and the pursuit of multiple funding opportunities which is currently ongoing.

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Her message said: "We have continued to make significant progress over the last 12 months on the new stadium project, including the completion of an extremely positive second stage public consultation, extensive political engagement, and the appointment of Laing O'Rourke as our main contractor.

"In December, we entered into a pre-construction service agreement with Laing O'Rourke including a fixed price sum for the construction works.

"While the club waits for the determination of the planning application we continue to pursue a range of funding opportunities including senior debt, alternative sources of equity, funding supported by the city council, a combined authority grant to support enabling work, and subordinated debt.

"Phase Two due diligence is currently being conducted to support the funding process including direct research with supporters to help shape what matchdays will look like at the new stadium."

Alongside plans to move to a new waterfront ground, Everton are also committed to leaving a legacy in the area surrounding Goodison Park.

The club's CEO also provided a brief update on those plans and how crucial they will be to the local community around the stadium in the coming years.

Everton accounts and AGM

"The club has also continued to make significant progress in our plans for a community-led legacy at Goodison Park," she added.

"This will build on an ongoing programme of investment in the community facilities within L4, and will ensure the heartbeat of the club remains in the local community it has called home for almost 130 years.

"This progress is testament to the hard work, expertise and dedication shown by club staff, our consultants and key stakeholders despite the extremely challenging conditions over the past 12 months."

Barrett-Baxendale also looked ahead to the upcoming year, reiterating the hope that work can begin on Everton's proposed new stadium in the near future.

But, before that can take place, the club's CEO explained what needs to happen at Goodison Park to make sure the Blues can maximise their revenue and continue to aid the first team's growth.

"In the coming year, I'm very much looking forward to making more progress on the new stadium," Barrett-Baxendale remarked.

"If all goes to plan, we could see the first spade in the ground at Bramley-Moore Dock during 2021.

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"The new stadium presents us with a number of crucial opportunities for growth including general admissions, hospitality, partnership, catering, retail and revenues from concerts, conferences and other events.

"Before we move to the new stadium, it's crucial we continue to grow our controllable revenue streams at Goodison Park.

"We will focus on maximising the revenue from our current partnership inventory, whilst continuing to pursue new opportunities including further expansion of our international presence.

"We must continue to challenge costs and ensure we are always achieving best value for money, remembering that every pound earned or saved is a pound that we can invest directly into our first team and future ambitions."




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