Kieran Maguire: Everton may have sealed top deal with '£30m guaranteed by Farhad Moshiri'
Everton may have abandoned a £30million lending deal with Liverpool City Council because they have agreed improved terms elsewhere.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the financing of the Bramley Moore Dock project.
Everton are set to move into their new waterfront 52,000-seater stadium in time for the 2024-25 season, with construction costs estimated at £500m.
The Toffees had considered an offer from Liverpool City Council, who offered to provide £30m in loans and grants for the project.
But as relayed by Liverpool World on Tuesday (26 April), the offer has been withdrawn as Everton have now secured funding from a private source.
Maguire suggests that owner Farhad Moshiri has likely used his leverage to negotiate better terms.
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“There is less scrutiny with a private equity deal,” he told Football Insider‘s Adam Williams.
“There is also less politicisation, which allows Everton to focus on business.
“They won’t be constantly bombarded by questions about there being taxpayer involvement.
“They can now just get on with running Everton on a purely commercial basis.
“In terms of rates, it could be that the lending has been guaranteed by Moshiri.
“That might mean they get a more competitive interest rate than if they borrow from the local council.”
Everton have posted losses of £373m over the last three years.
They have so far managed to steer clear of punishment for violating the Premier League’s financial fair play regulations.