Kieran Maguire: 'It's full steam ahead' for Everton amid £54m spending prediction
Everton owner Farhad Moshiri will insulate the club from any financial turbulence caused by stadium construction costs.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively about the progress of construction on the Bramley Moore Dock site.
In last year’s annual general meeting, Everton board member Sasha Ryazantsev estimated the club “will have spent £54million on the new stadium project” by the end of June.
The arena is set to open in 2024, will seat 52,000 spectators and is forecast to cost over £500m in total.
Construction spend will fluctuate from month to month but Moshiri will ensure this doesn’t come at the expense of the club’s day-to-day budget, explains Maguire.
“There will be peaks and troughs simply due to different elements of construction,” he told Football Insider correspondent Adam Williams.
Subscribe to Football Insider TV now
“There will be times when you are waiting and you have supply chain issues.
“It does accelerate and decelerate because you have to wait for a particular piece of work to be completed before you can move on to others. But in other parts of the stadium, you can be working in parallel.
“If we take a look at what happened with Spurs, over three years of stadium build it was £221m, £493m, £420m. All of these costs are ringfenced for FFP purposes.
“So provided they have got the funding, and Moshiri is very good when it comes to long-term planning, then it’s full steam ahead.”
Everton agreed a stadium naming rights deal in principle with Alisher Usmanov last year.
The Russian billionaire paid £30m for first refusal to sponsor the new arena.