By Kieran Maguire

22nd Feb, 2021 | 4:00pm

Maguire: Everton will 'sweat the asset' as intriguing stadium update revealed

The Everton hierarchy have shown shrewd business sense in making their mooted new home a multipurpose stadium.

That is according to finance guru and new Football Insider columnist Kieran Maguire, speaking exclusively after the £500m Bramley Moore Dock Stadium was recommended for approval on Monday of last week.

Everton have been searching for a new home for the best part of the 21st century, with proposed stadiums in 2003 and 2009 abandoned for planning reasons.

The new 52,000-seater waterside stadium could open in 2024 and will be a multi-operational venue designed to stage functions and concerts as well as football.

Maguire explained the economic utility of a multipurpose stadium and how it will allow Everton to “sweat the asset” to great effect.

He told Football Insider correspondent Adam Williams: “If you think about a supermarket or car dealership, they’re open five or six days a week. Therefore you’re generating revenue 300+ days a year.

Subscribe to Football Insider TV now

“If you’ve got a football ground and it’s only open for Premier League matches and a couple of cup games, Everton could end up with an asset which is only used 20 or 25 days a year.

“Then it wouldn’t be generating money for the other 340. Having a multipurpose stadium allows you to sweat that asset.

“It’s got the facilities, conference rooms, catering, functions and so on, and you can start to utilise it on a day-by-day basis as opposed to once a fortnight for 10 months of the year.”

The mood is positive around Goodison Park at present with Everton gunning for a first top-four finish since 2005.

Carlo Ancelotti’s side beat Liverpool at Anfield for the first time since 1999 on Saturday and drew level on points with their rivals with a game in hand.

In other news, a top pundit has heaped praise on Tom Davies for his superb showing against Liverpool.