New Stadium Update

Dear Shareholders,
 
The determination of our planning application came after our February newsletter, but I wanted to take this opportunity to thank you for your continued support.
 
Achieving planning consent in Liverpool was a major milestone for this project and it was very pleasing to see the planning committee unanimously approve both our detailed application for a new stadium as well as our outline plans for Goodison Park.
 
There was significant global interest in the planning committee with people viewing from the Far East, Middle East and across the United States. I imagine it was one of the most well-attended planning meetings in the city’s history! As Shareholders, you have been with us every step of the way, and our success to this point has been down to the overwhelming support we’ve had from you as well as the wider Everton family.
 
We have been very open about the complexities and challenges of building a new stadium at Bramley-Moore Dock and the importance of us approaching this project in a respectful and collaborative way. I was delighted that Liverpool City Council’s Planning Case Officer’s report agreed with our assessment that the substantial public benefits of a new stadium at Bramley-Moore Dock far outweigh any heritage impact to the site. The stadium is an important part of our football club’s future, giving us a platform for growth in a number of different areas.
 
However, what has become abundantly clear is the important role our proposed developments in the North Docks and L4 will have on the city’s post-pandemic future as we help generate a £1.3bn boost to the economy, create more than 15,000 jobs and kick start £650m of accelerated regeneration.
 
As Shareholders of this football club, you will know as much as anyone how much Everton cares about and has contributed to our city’s history and heritage. That is why we want to integrate Bramley-Moore Dock heritage assets into our plans. At planning committee, we reaffirmed our commitment to spending up to £55m to ensure those assets - including the Grade II listed Hydraulic Tower, the listed dock walls, the water channel that connects Bramley-Moore Dock with neighbouring docks, and the cobbles, capstans, mooring posts and railways lines - are repaired, preserved and maintained for the future.
 
We firmly believe that opening the site, and its heritage assets, to the public will ensure meaningful use of our World Heritage Site for local people and visitors to our city to enjoy.
 
There is still work to do, and while Liverpool City Council have approved our proposals, the plans have since been referred to the Secretary of State for Housing, Communities and Local Government as standard procedure. The Minister and his team are reviewing the application and Liverpool’s City Council’s thorough planning determination. We look forward to a response in the coming weeks and as soon as we have that we will of course let you know.
 
Since the application we have been working on build schedule scenarios alongside our preferred contractor Laing O’Rourke. During the planning committee meeting you will have seen the 12 stages of development for our three-year build. Some work still needs to be finalised, as starting at different times in the year offers up different challenges that we would need to overcome within our schedule.
 
The achievement of full planning through Government approval is also a key milestone in the funding of the project. Once planning is approved, we can begin to finalise our preferred funding solution. As you can appreciate this is commercially sensitive at the moment, but we will be able to provide an update when planning has been fully secured and a deal fully completed.  
 
Finally, I want to thank you again for your patience and support. I look forward to updating you further as our project progresses.
 
Colin