Kieran Maguire issues Alisher Usmanov claim as Everton on brink of multiple deals
Everton owner Farhad Moshiri has been forced to search for external investment in part because of the exit of former benefactor Alisher Usmanov.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about Moshiri’s hunt for funds to see the Bramley-Moore Dock construction project through to completion.
The Daily Mail reported earlier this month (21 January) that the British-Iranian billionaire is close to finalising a number of loan deals for the purposes of the stadium.
This is a departure from Moshiri’s original stance, which was that the project would be funded solely through cash-for-equity deals.
Usmanov, a close ally of Moshiri, did have a £30m first-refusal arrangement with the Toffees for the naming rights at Bramley-Moore but was forced to abandon it following government sanctions in March last year.
Maguire claims that the Russian’s departure along with rising construction costs explains why Moshiri is now looking for alternative funding sources.
“The potential for debt funding for Bramley-Moore Dock is due to two factors,” he told Football Insider’s Adam Williams.
“First of all, costs, despite earlier claims that there would be a fixed-price deal, have spiralled. That is due to a combination of Brexit and broader issues around materials and labour costs.
“One area Moshiri would have looked to tap into was his close relationship with Alisher Usmanov.
“He had hinted that he was interested in taking up his naming rights option for the stadium. That is no longer viable.
“Therefore, additional revenue that could have been generated through that route is no longer an option.“
In other news, Everton in talks to sign Viktor Gyokeres and second striker as £15m bid plan revealed.