Everton hold talks to restructure Bramley-Moore Dock debt already at new stadium
Everton have held talks with financial advisory firm Teneo to restructure the debt accumulated by the building of their new stadium, according to The Independent.
Completing the Toffees’ new stadium at Bramley-Moore Dock is set to cost around £760million, and with debts piling up, shareholders have looked into how those costs can be re-evaluated.
No agreement has yet been reached with Teneo to engage the restructuring of stadium debt, but with takeover talks seemingly going nowhere, the club’s hand may soon be forced.
The Independent’s report also states that £158million to finance the stadium build has been loaned by 777 Partners, but if they can’t complete their takeover, it remains to be seen what would happen with the money, which would otherwise be converted into club equity.
When will the new Everton Stadium be completed?
Everton plans to move into their new Bramley-Moore Dock home before the start of the 2025-26 season, leaving them with little over 12 months to have the 52,888-seater arena ready.
These 12 months are shaping to be absolutely crucial for the future of the club though, as 777 Partners’ proposed takeover continues to hit stumbling blocks, looking no closer to completion than when talks began eight months ago.
The club’s debts are only increasing with Farhad Moshiri unable to find a suitable buyer for his 94.1% shareholding in the Blues, and the sale of Goodison Park itself to alleviate some of that debt is also not an option available.
For now, the main priority must be finding a takeover deal that works for both the current shareholders and the future prospects of the club, but the longer a buyout from 777 Partners or a third party takes to be completed, the question marks will continue to hang over the Bramley-Moore Dock project.
In other Everton news, a competitive auction twist has emerged amid a recent Everton takeover development with Farhad Moshiri looking to sell.
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