Everton’s new stadium costs have “escalated significantly” over £300million price
Chief exec Robert Elstone insisted they will cover the soaring costs and still plan on moving to Bramley Moore Dock site
Sponsored by
EVERTON’S new stadium costs have “escalated significantly" over the original £300million price.
The Toffees still intend to move in time for 2022-23, having signed a lease at Bramley Moore Dock.
And chief exec Robert Elstone insisted they will cover the soaring costs.
He said: That funding target has escalated significantly and has occupied much of our efforts of the past 12 months.
"The premium for the waterfront site, an ambitious capacity that we will test with more rigour, a design we can all be proud of and the simple but painful impact of inflation, have all contributed to an increased overall cost and a funding target which continues to grow.
"It's a challenge that has always had the full support of Liverpool City Council and throughout 2017, we have been totally committed to finding a funding arrangement that works for the club and the city."
Latest Everton news
Goodison Park has been Everton's home for 125 years but the club have been exploring new stadium sites for numerous years.
The Toffees have secured the lease for 200-years which practically gives them full ownership of the land.
MERSEY BATTLE Liverpool and Everton both want to sign Preston defender Josh Earl after teen’s impressive form
It means they can start planning for their new ground with the security of having the huge area of land available.
Elstone added: "Whilst the cost and related preparatory works add a one-fifth premium to the cost of the Bramley Moore Dock site, we believe that the commercial returns from naming rights, sponsorship, higher attendances and greater use on non-matchdays will recoup that premium."