Kieran Maguire tips Moshiri and Usmanov to snub £1bn offer at Everton after talks update
Everton would likely snub the chance to borrow from a £1billion central Premier League fund.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Toffees’ finances.
The Financial Times reported on 5 October that top clubs have discussed the introduction of a £1bn lending facility to ease cash flow issues.
It has been argued that the Premier League should establish the fund to prevent clubs from borrowing at high rates of interest.
Everton posted the biggest loss in the division for the last accounting period, £139.9million.
They have also been forced to adopt an austerity-driven policy in the transfer market and spent just £2m over the summer.
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But Maguire insists that owner Farhad Moshiri will be determined to keep things in-house when it comes to financing the club.
“I don’t think Everton will use this,” he told Football Insider correspondent Adam Williams.
“A lot would depend on the terms and conditions of the loans if this central fund is set up.
“You only have to look at the loans that the EFL have given to some of its member clubs to see that they come with strings attached.
“I imagine Farhad Moshiri wants as much independence as possible, and that’s on the basis of the Bramley-Moore Dock project.
“He will have access to much broader debt markets. So, depending on the interest rates, they wouldn’t have call to use it.
“He himself, with his wealth and with the support of Usmanov, will have access to low rates which Everton could potentially benefit from.”