Everton big-money loan offer now subject to due diligence amid equity update – BBC Sport
Everton has been offered a £150m loan by GDA Luma Capital to help complete the construction of the Bramley Moore Dock stadium, according to BBC Sport.
The broadcaster reported on Wednesday (15 May) that the private equity firm specialising in “distressed debt” have made a proposal to “provide stability”.
It has also been suggested that this loan is subject to due diligence but will involve no shareholding or any talk of a full takeover deal for the club.
Given that the costs of the stadium have gone from £500 million to £800m since the beginning of construction, financial aid is necessary.
Everton needs help for Bramley Moore Dock stadium construction
There has been no lack of financial concerns for Everton over the past few years which began to affect them on the pitch this season.
Sean Dyche’s side were brandished with an eight-point deduction in total but Premier League survival was achieved with plenty of time to spare.
Farhad Moshiri has been keen to sell the club to a buyer who can offer some financial stability after years of turmoil.
777 Partners appeared to be the go-to option for the Toffees as they looked set to be stepping in after some initial investment.
After some issues regarding late payments to Everton and then to players and staff of Standard Liege, Moshiri pulled away from talks.
With the Miami-based group set to be cut off by the club, debts still need to be paid and more financial aid is needed.
GDA Luma Capital appear to be the group to help cover the payments for the new stadium ahead of its opening in the next year or so.
In other Everton news, Alan Myers discusses alternative potential club buyers to 777 Partners.
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