Everton set to launch £300m deal as JPMorgan sound out investors
Everton are seeking a £300million “private-placement deal” to finance their new stadium at Bramley-Moore Dock, according to Bloomberg.
The news outlet reported on 7 January that US financial services firm JPMorgan is sounding out investors for The Friedkin Group.
Bloomberg adds that anonymous sources with knowledge of the situation say that JPMorgan is also providing a loan of £130million to TFG.
JPMorgan and TFG have declined to comment.
Everton in Tottenham-esque move to finance new stadium
Everton aren’t the only club who’ve sought stadium financing in this kind of manner.
According to Bloomberg, Tottenham and Barcelona also used the help of US investors to help fund their stadium projects in recent years.
Spurs’ net debt, as of June 2023, was £677.4million, mainly due to their new Tottenham Hotspur Stadium.
The North London club is more a commercial business than a football club these days due to how Daniel Levy has run the place but with TFG writing off a whole load of debt since buying Everton from Farhad Moshiri, Evertonians can’t expect to see new debts reaching such levels.
Dan Friedkin and co will be well-versed in financing huge projects like this so there’s little for Everton fans to be concerned about here.
Of course, the debt will have to be paid off but the rise in matchday income at Bramley-Moore Dock will no doubt see this investment paid off in the future.
Everton just need to be a Premier League club.
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