According to Alan Myers, Everton is “in credit” for almost £100 million toward the cost of the new Bramley-Moore Dock stadium.
The Sky Sports journalist tweeted on Wednesday, September 20, that despite Farhad Moshiri’s valiant efforts to raise money, the Blues are now in the black when it comes to paying for the £500 million project.
Moshiri has undertaken discussions with a variety of partners and obtained loans to help pay for the 52,888-seat arena after losing Alisher Usmanov’s backing.
In spite of the fact that he has now agreed to sell 777 Partners the majority of his shares in Everton, Myers maintains that the club has overpaid for the Bramley-Moore Dock stadium and that there is no basis for the persistent rumors that it is insolvent.
On Wednesday night (20 September), Myers posted on Twitter, “I believe we are around £100m in credit on the stadium project.”
Myers said, in response to a question about the source of his knowledge, “It’s what I’m told by someone who would know, just really contrary to reports that the club don’t have the money.”
What is going on with the new Everton stadium?
According to all the information released by the club and the photographs that are available, Everton’s new stadium should be ready to host games by the start of the 2024–25 season.
However, Everton’s biggest concern with the project has always been its cost. Moshiri has always had Usmanov to aid him since he hasn’t been able to manage it on his own, along with operating the club.
However, Moshiri lost Usmanov’s support as a result of the UK government’s sanctions against oligarchs with ties to Russia and had to look for funding elsewhere.
The arrangement for Moshiri to sell Everton to 777 Partners is now in place, which is more significant than the loans that have been secured.
Major concerns exist regarding 777’s ability to pay for both the acquisition and all of Everton’s obligations.
Being £100 million in the black is undoubtedly a positive thing, but we don’t know how much of that £500 million has already been paid off.
