Everton's Finch Farm training ground has been bought by Liverpool City Council in a £13million deal which will see the club pay rent for the next 40 years, reports The Independent. The Toffees retain a long-term lease on the facility but will now pay reduced annual costs to the council instead of a private company.
"We continue to work with the council on many fronts and the club is especially pleased to have delivered an innovative scheme, on our superb Finch Farm facility, that works for both parties," said Everton chief executive Robert Elstone.
"Over the lifetime of this arrangement we will get much-needed revenue, which we can re-invest in essential services for the people of Liverpool.
"Together with the new Exhibition Centre, the council regard such investments as innovative but vital in enabling it to meet its on-going budget challenges."