We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Everton...
Everton recently paid over £500,000 to the Liverpool Council in relation to fees associated with their new stadium at Bramley Moore Dock.
According to Dr Dan Plumley, the main reason the Toffees did this was to avoid it from being a PR disaster and also due to the politics involved in it.
Liverpool Echo have revealed letters that show the club were not legally obliged to pay the amount that they ended up to the council.
Everton had made an offer to pay a share of the fees in October 2019, but on further inspection of the conversations, they did not need to shell out the money.
Discussing this development exclusively with Goodison News, the Sheffield Hallam University expert said, “You can’t separate these things from the politics sometimes, especially at that time when we did not know that council were going to be involved.
“It’s more of a PR issue and you can spin it the other way too as it can look bad if Everton don’t pay the money.
“In the context of the multi-million-pound football club, it would look worse if they didn’t pay the £500k. So they probably felt that they had to get it out of the way.
“They did it to appease the council and then get it done with to avoid the politics as well.”
Per the Echo report, the Toffees have remained consistent throughout with their stance that no agreement was reached on the liability of the due diligence fees.
As the club decided no longer to rely on the council for funding, they reached a settlement with them to meet the costs that were incurred.