Farhad Moshiri in record-breaking £575,000-a-week new Everton stadium development amid financial source reveal
Everton have racked up a record-breaking debt in interest payments, with Farhad Moshiri owing approximately £30million a year in interest for loans taken out to help fund the new Bramley-Moore Dock Stadium, according to the Daily Mail.
The newspaper shared via their website on 17 September that a £100million loan was secured from MSP Sports Capital, which added to the £280,892,048 debt already owed, with the majority due to Image & Media rights.
These record-breaking interest payments come down to around £575,000 per week for Moshiri, but a spokesperson for 777 Partners shared confidence that any depts would be worked out for their purchase of the majority stake in Everton to go through.
Financial issues keep adding up
The heavy financial issues looming over Everton Football Club seem to be getting worse by the day, as more information comes out surrounding the financing of their new stadium, as well as Financial Fair Play allegations still yet to be resolved.
Everton remain the subject of an investigation by the Premier League into financial breaches, which is set to be concluded in October as the club await their fate nervously amid plenty of other financial scares.
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Concerns were raised previously raised by Sunday People journalist Neil Moxley [20 August], who questioned the massive losses made by the club, as well as an investigation into tax irregularities surrounding the funding of the new stadium, calling it “very worrying”.
777 Partners agreed to a deal to purchase Moshiri’s 94.1% stake in Everton, but concerns were raised over whether they had the funds to complete the purchase, with further doubt emerging over the debt repayments.
In other Everton news, Robbie Fowler has criticised one Everton man after recent news.