Alisher Usmanov’s millions have saved Everton from a financial fair play disaster.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after the Daily Mail revealed that the billionaire’s holdings company USM is set to sponsor Everton’s new stadium in a £20million-a-year deal.
Usmanov already has a £12m naming rights deal in place for the Toffees’ Finch Farm training complex.
Everton owner Moshiri and Usmanov are close associates and the two agreed a £30m first refusal deal for the Bramley-Moore Dock naming rights in January.
That came just weeks after Everton posted eye-watering losses of £139.9m for the last financial year.
Maguire explains that the deal is all above board when it comes to FFP and that the oligarch’s cash injections have brought Everton back from the brink.
He told Football Insider correspondent Adam Williams: “An independent valuer from an independent body will come in and say that the naming rights deal is coming from what is known as a related party.
“Any transactions have to be assessed at fair value and they would work out what they think that is.
“Usmanov is not a shareholder in Everton so therefore this is, in theory, an arm’s length agreement. He also paid £30m for the option to have the naming rights for the stadium before the stadium had even been approved. That dug Everton out of an FFP challenge at the time.
“They were pretty close to the limit when they were thinking about sacking Marco Silva and we’ve seen them make huge losses recently too.
“He is formally involved with the sponsorship of the training ground. One of his other companies, which is called MegaFon, is now the sponsor of the women’s team shirts.”
He now owns 92.2 per cent of the club he first became involved in in 2016.