Everton sale of Bramley-Moore Dock stadium could be ‘attractive’ way of finishing new build
Due to rising construction costs, “selling off all or part of Everton Stadium Development Limited” could be an attractive option for Everton, according to The Athletic.
The news outlet reported on Friday (3 November) that financial instability means doubts have emerged over whether the Blues will even own all of their new stadium at Bramley-Moore Dock.
Everton are already in a huge amount of debt and it is understood they are having to pay construction firm Laing O’Rourke between £15million to £20million each month.
On top of this, the price of steel has risen dramatically in recent years and Everton are likely to be made to foot the bill when it comes to extra costs since the initial construction deal was agreed.
We’ll have to wait and see
Everton’s immediate future is in doubt.
Farhad Moshiri has agreed to sell the club to 777 Partners but there have been a multitude of reports suggesting that the Miami-based investment firm are bad news.
It remains to be seen even if the Premier League approve 777’s takeover at Goodison Park and if they don’t, who knows what will happen then?
Moshiri does seem to have some very last-resort options to ensure the new Bramley-Moore Dock stadium doesn’t befall a similar fate to Valencia’s Nou Mestalla after construction was halted there in 2009 due to financial issues.
Selling off part of the new stadium – or even all of it – would ensure that it’s built and that Everton’s long-term future would be secure.
However, it’s not an option people would want to take unless the only other option was to abandon the entire project.
It largely comes down to 777 and whether they can pass the Premier League’s checks and if they can find a way to stump up the funds to pay the spiralling construction costs and all the debt that’s come with it.
In other Everton news, the Blues cannot afford to lose Amadou Onana as transfer news emerges.