Friedkins line up brand new Everton Stadium deal with blue chip lender already
Dan Friedkin has lined up a deal with a “blue chip lender” to reverse engineer the new Everton Stadium’s financing, according to iNews.
The outlet reported on 19 December that after Friedkin’s takeover on Merseyside was finally announced, the new Blues owner is planning to launch a new refinancing deal which had previously been unavailable.
The “reverse engineering” of stadium costs hadn’t been possible for the Toffees under Farhad Moshiri’s regime, with blue chip lenders unwilling to get on board due to their perilous financial position.
American banking giant JP Morgan had been mooted as one possible partner for Friedkin to help rid the club of its debts [Bloomberg, 6 December], but it remains to be seen who the new owner has lined up.
Dan Friedkin ready to maximise potential of new Everton Stadium
The last few years for Evertonians have seen the club viewed as little more than a financial basket case by many a prospective buyer, saddled with ever-increasing debts thanks to Moshiri’s haphazard ownership.
However, the shining beacon of hope on Liverpool’s waterfront is now all but complete and represents one of the few tangible assets which attracted the likes of Freidkin to buy the Toffees.
Set to hold 52,888 people and make the club potentially £40million more per season than Goodison Park in matchday revenue alone [Kieran Maguire, 8 July], the Blues’ new Bramley-Moore Dock home will be a game-changer.
That’s undoubtedly what attracted Friedkin to buying the club, with the financial boosts brought about by the stadium set to help their delicate financial position.
Friedkin’s arrival not only steadies the ship but also opens the door to endless possibilities once the Toffees move into their new home next summer.
In other Everton news, Jamie Carragher has spotted a worrying trend with the club’s new signings since Sean Dyche’s arrival.
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