Long-term stadium refinancing agreed by Everton
The Premier League football club’s new ownership has agreed a £350m package with a consortium of blue-chip institutional lenders, rearranging the build project’s borrowing.
New borrowing arrangements set in motion by the Friedkin Group, which took over Everton in December, will replace deals made by the previous ownership that supported the 52,888-capacity Bramley-Moore Dock stadium’s construction.
Everton will play at the waterfront arenas from summer. The Toffees said that the offering was oversubscribed multiple times, ensuring competitive terms beneficial to Everton.
The Friedkin Group said that the financing is part of its commitment to strengthen and stabilise the club to provide the foundations for the on-pitch success that evaded the club under the previous regime.
As well as providing a new footballing home for Everton, the stadium will be a multi-purpose venue and cultural asset for the city of Liverpool, which is estimated to have the potential to generate an additional £1.3bn for the local economy.
The stadium has already been selected as a host venue for the UEFA European Championship in 2028, with a strong pipeline of additional revenue-generating non-football events in the works.
Everton received the keys to the ground from main contractor Laing O’Rourke in December, just days after the completion of the Friedkin takeover.
The first of three test events was held on 17 February, with Everton’s Under-18s hosting Wigan Under-18s in front of 10,000 fans, in line with planning requirements.
Dialogue is ongoing between the club, the council and transport bodies as all parties try to get to grips with the logistical challenges of getting more than 50,000 people into and away from a new venue.
The fit-out of premium lounges and bars is now taking place, in advance of a formal opening for the start of the 2025/26 season.
The Friedkin Group bought the club in December. Credit: Tony McArdle/Everton FC
What a difference having proper, experienced owners is already making. Well done TFG – keep it up.
By Saint Domingo