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Liverpool Council's Everton stadium offer proves too political as club announces finance plans

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The idea of a cash-strapped city council, battered by ten years of austerity, lending a Premier League football club owned largely by a billionaire steel magnet around £280m to help build its state-of-the-art new stadium - the optics weren't great.

Initially, Liverpool Council were only planning to act as a guarantor for the loans Everton were seeking to fund the stadium - an arrangement called a Special Purpose Vehicle.

So political ding dongs were the last thing club bosses wanted - and over the past two years the Blues have steadily moved further and further away from the council's offer, while being careful not to cut off any options at a time of huge uncertainty thanks to Brexit, amongst other things.

It was always going to be a tricky sell.

The Mayor - a lifelong and vocal Everton fan - has always insisted that his ambitious proposals were based purely around helping to grow Liverpool's economy, help to facilitate a game-changing new development in North Liverpool and most importantly, create what he believed would be a regular £7m annual cash boost for the council's dwindling coffers.

The Mayor insisted that his offer was not to do with his passionate support of the Blues - and that he would have made the same offer to Liverpool if circumstances were similar, but it was a plan that was always going to be difficult to get the public on board with.

After 10 years of grinding austerity and cuts to its central budgets, Liverpool Council has increasingly been forced to find new ways to grow the city's economy - and the PWLB has been a major part of that.
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