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Volume 10 No. 25

Finance

Premier League side Everton's proposed new stadium at Bramley Moore Dock will provide a £1B ($1.35B) boost to the local economy -- and the project has been heralded as a "game changer" for the city of Liverpool, according to David Prentice of the LIVERPOOL ECHO. The construction of the arena is due to be completed by '22. It is estimated that £900M ($1.21B) will be added to the region's economy -- "even before the stadium is completed." The figures have been produced by commercial real estate investment firm CBRE, which is working with Everton on its stadium project. CBRE Senior Dir of Planning & Development Iain Jenkinson said, "This is a once-in-a-generation opportunity for Liverpool to embrace one of the most significant and unique regenerative investments the city has ever seen." The "huge financial lift to the city's economy" during the construction phase will see the "creation of more than 12,000 jobs for local people," with more than £255M ($343.9M) estimated to be spent locally through supply chains and other service costs during the same period. Once completed, the stadium is "set to provide an annual boost to the city" of £94M ($126.8M) through hotel occupancy, retail and tourist spend. The stadium is the "key project in a monumental regeneration scheme" -- a scheme that is set to be "one of the largest and most transformational Liverpool has ever seen." The wider scheme is being supported by Liverpool City Council and investment group Peel Land & Property, and includes a housing development consisting of "more than 1,650 homes, as well as commercial developments and a retail offering for the local neighbourhood" (LIVERPOOL ECHO, 9/19).

For the first time since La Liga centralized the sale of TV rights, Barcelona "will have more money than Real Madrid to spend on its roster this year," according to Óscar Zárate of MUNDO DEPORTIVO. Barcelona will be able to spend up to €507.2M ($603.3M), while Real Madrid can spend up to €499.7M ($594.4M). La Liga released each club's salary limit on Tuesday. The third, fourth and fifth clubs on the list are Atlético Madrid (€237.8M) ($282.9M), Sevilla (€159.6M) ($189.9M) and Valencia (€113.3M) ($134.8M) (MUNDO DEPORTIVO, 9/20).