Kieran Maguire issues verdict on Everton being fined £100m-plus after 'distressing' development
There is no doubt that Everton are in a “distressed” state financially – but they will avoid a £100million-plus fine for being unable to complete the construction of their new stadium at Bramley-Moore Dock.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest news from behind the scenes at Everton.
The club is due to move into their 52,888-seater stadium in time for the 2024-25 season, but owner Farhad Moshiri is now seeking external investment to fund the project.
The Guardian reported last Sunday (13 November) that the Toffees face a fine that could run into the hundreds of millions if they fail to find the funds for the stadium as they will need to restore the site to its original state.
The Merseysiders have lost over £370million in the last three accounting years and their next set of figures are expected to paint an equally bleak picture of their finances.
But Maguire does not anticipate that the club will fail to find the cash to complete the move to Bramley-Moore.
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“Everton are high on many people’s watchlists of financially distressed clubs,” he told Football Insider’s Adam Williams.
“But there is no evidence that the clubs cannot pay its bills to date. The operation costs and funding for Bramley-Moore Dock are being covered by the owner.
“Their regular source of revenue is from the Premier League.
“If Bramley-Moore is not completed, I think we are looking at a far bigger reset at Everton than anyone can envisage. An awful lot of money has already been spent on the project.
“Therefore, if that doesn’t go ahead, it is difficult to see the club could continue under the current ownership.”