Everton FC has agreed a deal with Peel Holdings to buy land at Bramley-Moore Dock for its new stadium.
The Merseyside football club announced Bramley Moore as the preferred site for its new stadium in January as it plans to move from Goodison Park after 125 years.
Bramley-Moore Dock is part of the Liverpool Waters’ £5bn redevelopment.
The deal between Everton and Peel is subject to planning consent, and a report will be presented to Liverpool City Council’s cabinet on 31 March. It will propose to create a new special-purpose vehicle, which will take a lease of the stadium from a funder and sublet it to the club.
Under the proposed finance structure, the council will not provide any finance for the stadium, which is expected to cost more than £300m.
Robert Elstone, chief executive of Everton FC, said: “Over the past year, the club has worked with the support of the council and we are grateful for the can-do approach that has got us to this important milestone. We are particularly grateful for the role the mayor has played to date in our talks with Peel and for his support in this important step in the journey towards reaching a funding solution for the stadium.”
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