Mayor Rotheram shares update on Everton stadium project
Mayor Rotheram has confirmed that the Liverpool City Region Combined Authority (CA) will not be loaning Everton Football Club £30m for their new stadium project.
Last year, the Rotheram-led council promised to provide a package for the new stadium at Bramley Moor Dock, which included a £15m grant to help pay for infrastructure and heritage work at the site.
While the £15m grant offer is still valid, the Toffees have decided not to take up the £30m loan offer, as they have found an alternative funding source.
Rotheram is also “pleased” that the Toffees have suspended their sponsorship agreements [Eventonfc.com] with Russian companies USM, Megafon and Yota last week after the country waged a war against Ukraine.
Mr Usmanov has now been sanctioned by the European Union, the UK and the United States due to his close ties with the Russian president, Vladimir Putin.
Mayor Rotheram said, as quoted by The Liverpool Echo: “I was pleased to see Everton Football Club take decisive action to close sponsorship arrangements with Russian companies following Vladimir Putin’s invasion of Ukraine.
“In September 2021, the Liverpool City Region Combined Authority (LCRCA) approved funding to Everton Football Club for a £15m grant and £30m loan to support work connected to the new stadium project at Bramley Moore Dock.
“However, in January 2022, Everton notified the LCRCA that it had found alternative sources of funding from the private sector and would therefore no longer require the £30m loan.”
Financial crisis
Could Everton be facing a big financial blow?
According to a recent report from The Daily Mail, the Toffees are facing a “black hole of up to £300million in their playing budget” after the sanction made on billionaire Alisher Usmanov.
The Toffees had already agreed on naming rights for the ambitious stadium project where they would have benefitted by £300m.
The club wanted to invest that money into the squad. However, the Toffees will have to come up with alternative plans.
Frank Lampard may have to operate on a tight budget going forward. However, the primary focus now is to secure Premier League safety for the next season.
The Toffees are 17th in the league, and they are struggling badly at the moment. They face Tottenham Hotspur in the Premier League on Monday night.
In other Everton news, Stan Collymore unloads after what he was watching in the Toffees clash against Boreham Wood
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