Everton Football Club appears increasingly unlikely to complete its planned move to a state-of-the-art stadium at Liverpool’s Kings Dock in the face of rising construction costs.
Liverpool Vision, the urban regeneration company supervising the redevelopment of the dock, is now considering alternative proposals for the prime site.
The club lost its position as preferred bidder with Liverpool Vision at the end of last year after it failed to produce sound financial plans.
Everton was asked to raise £30m towards the £300m cost of building and running the 55,000-seater stadium, part of a mixed-use scheme planned for Kings Dock.
Now it has emerged the construction element of the cost quote has risen from £155m to £170m, further diminishing Everton’s chances.
The club is in talks with Steeltower, a development company backed by former Everton director Sir Desmond Pitcher and London-based architect Patrick Davies, over selling Goodison Park and other property assets in return for financial backing for a revised stadium plan.
Both Davies and Pitcher were behind the Northstar Consortium’s failed bid to redevelop Kings Dock.
The competition was won by Everton and Houston Securities, a development vehicle backed by club director and leisure investor Paul Gregg.
One senior source within Liverpool’s public sector said Everton “is very unlikely to come back to the table with anything for Kings Dock”.
A spokesman for Everton said the club remained committed to providing a unique, world-class stadium as originally promised to its fans.
Liverpool Vision and its partners now support a smaller arena at Kings Dock for up to 20,000 people capable of housing sports, entertainment and corporate events.
References: EGi News 24/02/03
