Everton Football Club has had plans for its £300m new stadium approved by Liverpool City Council.
The council will now form a special purpose vehicle (SPV) company to help bring forward the project within Peel Land & Property’s £5bn Liverpool Waters scheme.
Everton FC will fully fund construction of the stadium, but lease the stadium from the SPV. Under the agreement the council will provide security for Everton’s loans and receive £4.4m a year from the Premier League club as a security fee.
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