Keith Wyness has called it a "peppercorn rent" but has still not given an exact sum. Tesco will sign a 999 year lease for the land from Knowsley Council and Everton FC will sub-lease from Tesco. So we will be paying Tesco rent for using the stadium. Also any maintenance that the stadium requires will be Everton's responsibility and not Tesco or KMBC.
No one mentioned this before..
From official questions - http://stadium.evert...ns-answered.php :
and from http://stadium.evertonfc.com/faq.php:
Andrew O’Neill: You state in the FAQs you will have a 999 year lease which is free hold and as far as I am aware. Any lease be it 99 or 999 years is classed as lease hold and therefore subject to a yearly payment. Can you advise what this cost per year would be?
Keith Wyness: It will be a peppercorn rent which is yet to be determined. Peppercorn rent is a very small amount.
7. Will we own any new stadium?
We will have a 999-year lease which is, effectively, a freehold ownership.
He didn't lie but I don't think he told the whole truth