Kieran Maguire: ‘Eyebrows have been raised’ amid £500m Everton mystery
It remains unclear whether or not Everton have a financing plan in place for the construction of their new stadium.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the progress of the £500million development at Bramley-Moore Dock.
The stadium is due to open ahead of the 2024-25 campaign, but Everton are continuing to experience financial issues after combined losses of over £370m in the last three years.
Owner Farhad Moshiri is seeking external investment in exchange for a stake in the club, with two groups having gone public with their interest in a deal.
The Liverpool ECHO reported last Friday that an American organisation has explored financing options with a bank with a view to striking an agreement with the British-Iranian billionaire.
Some have suggested that Moshiri is under time pressure to find external investment in order to help fund the move to Bramley-Moore Dock.
Maguire explains that, while the Toffees claim the stadium plan is fully costed, many within the construction industry doubt that this is the case.
“There are mixed messages about the financing of the stadium,” he told Football Insider’s Adam Williams.
“The club itself is very firm in that they claim to have a fixed-price contract.
“Speaking to people in the construction industry, they say this is very unusual for a long-term construction given the volatility of material costs. Eyebrows have been raised with regard to the club’s claims.
“As far as links to American groups, you can certainly see the attraction. Liverpool has got an airport, it’s a two-club city and there are lots of potential upsides there.
“Whether Moshiri has the resources to independently fund the stadium is uncertain.
“But there is no reason why he cannot access debt markets to provide funding in exactly the same way that Spurs did with regard to their move to their new stadium.“
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