Kieran Maguire: Everton have ‘negotiated a better deal elsewhere’ after £30m snub confirmed
Everton have rejected funding from Liverpool City Region Combined Authority (LCRCA) as they have found a better deal elsewhere.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the finances behind the Toffees’ new stadium move.
The club will move to a new 53,000-seater home on the site of Bramley More Dock at the beginning of the 2024-25 season.
They agreed to borrow £45million from LCRCA in order to fund part of the £500m construction costs.
But as relayed by BBC Sport on Monday (7 March), Liverpool mayor Steve Rotherham said they would only be taking up £15m of the package.
Maguire explained the reason behind the Toffees’ decision to snub the remaining £30m.
“I’m don’t think it’s a case of no longer being needed,” he told Football Insider‘s Adam Williams.
“I suspect Everton have managed to negotiate better deal elsewhere. There is no doubt that they need some form of external funding.
“But they may have gone to the market and realised they can get a better deal at an arms-length relationship.
“The thing is in a two-club city, there are always going to be 50 per cent of people querying anything between the city and one of the clubs.
“So there are benefits for all parties here. I suspect that as far Everton are concerned, they have done it for financial reasons.”
Everton find themselves needing to plug a £30m hole after Alisher Usmanov was forced to abandon his sponsorship deals with the club.
The billionaire is one of the Vladimir Putin-linked oligarchs sanctioned by the UK Government after Russia’s invasion of Ukraine.
In other news, [undit issues “100 per cent” claim about Nathan Patterson replacing Seamus Coleman at Everton.