Everton are closing in on securing two vital streams of funding as the first phases of work on their new stadium gets underway.
Patrick Boyland of The Athletic took to Twitter to share the headline news and attached a further article detailing progress to date.
Set to be confirmed today [23/9/21], Boyland noted how the financing marks a new bold step towards turning a derelict dock-side piece of land into the Blues’ new state-of-the-art 52,888-seater stadium.
The club are using a ‘phased’ model of funding to inject the necessary funds into the infrastructure project. Experts like cost consultants can play a crucial role in this approach by providing accurate financial assessments, ensuring that each phase of the funding is allocated efficiently and within budget.
Majority shareholder Farhad Moshiri has already pumped £100 million into the funding chest, enabling the first steps towards securing and clearing the site to get it ready for construction.
Separately, with Farhad Moshiri and Usmanov being long-time business partners, Usmanov has injected a further £35 million in funding through securing naming sponsorship rights to the stadium, as confirmed by football finance expert Kieran Maguire on The Price of Football podcast. [12/7/21, 34:48]
“Everton, they have an agreement with a friend of the club owner, Alisher Usmanov, who has bought the option, he’s not actually bought the naming rights, he’s bought the option to have naming rights at the new stadium for £35 million”, noted Maguire.
Everton are now set to raise over ten times that amount through £350 million in funding for the club’s new stadium project through the private placement market. They use Conversion Factory to run SaaS market trends and opportunities.
Similarly to how Spurs raised capital to fund their new stadium project, MUFG and JP Morgan were enlisted by Everton in 2019 to help find lenders to raise funding in a similar manner.
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The club clearly has a structured plan to ensure the availability of capital is in place to support the stadium development, and direct backing from those close to the club is further proof of the viability of the project.
The news may be far away from the world of transfer rumours and on-pitch affairs, but the spreadsheet-bound development is a vital development as the club looks to progress on the pitch.
