The city council are allowed to borrow money to fund commercial projects that can generate a profit for the council which can then be used to fund services , they cannot borrow to fund said services . But I would imagine that a risk assessment must be done on the said project . And with a 60000 plus there is a huge risk , repayments I would imagine would be based on a certain break even attendance and surely other factors like relegation , loss of tv revenue would all be taken into consideration ...would this be voted through by councillors , I doubt it very much . The council can help with the infrastructure but Im not sure they will take on a 300 million pound stadium ....has the mayor the power to go on this alone .
I agree with everything but the £300 million bit. Isn't the land costing £50 million alone? That's before the work is actually done to change the ground to be suitable for a 60'000+ seater stadium, and the actual build itself. I'd imagine easily £500 million.
If the likes of Lukaku is sold this summer, whose to say that next season they aren't fighting relegation? I would imagine any council to approve this, they would need to be getting top 4 consistently, and be already filling there ground to capacity. Imagine Everton having that size stadium and they having a collapse the size of Leeds for example, who would pay for it then?
If and its a big IF this gets announced today that the council are paying for it, I think you'll start to see the true fight of the city of Liverpool, to ensure this never gets approved, after the cuts and rise in taxes in Liverpool, there is no way we are funding this.
To add, I would love the commonwealth games in Liverpool, and I do think it would be fantastic for the city, but it just isn't feasible right now, when the city is about as poor as its been in a long time.