‘Friedkins play lenders off against each other to land game-changer Everton deal’
Everton insiders see a major new deal done by the Friedkin Group as a “significant moment” ahead of the move into their new stadium, according to The i.
The Toffees have been preparing for their departure from Goodison Park this season, as the finishing touches are added to their new stadium at Bramley-Moore Dock.
However, the club have been plagued with financial issues in recent seasons, and Everton avoided a second points-deduction in two seasons, in January.
Everton have held talks over a naming rights deal for their new stadium, which could be worth £10million-a-year.
Everton make PSR strides thanks to Friedkin’s ‘good reputation’
Following a report from The i, the Toffee’s new ownership group have shown a desire to grow investment in the club in a sustainable and safe basis.
Under previous owner, Farhad Moshiri, the club had been increasingly reliant on short-term, high-interest loans sometimes as high as 15 per cent.
But the Friedkin Group have a strong financial reputation, and they were able to play various lenders off against each other to secure a “very low” interest rate on a new financing deal for the Bramley-Moore Dock stadium.
Whilst less exciting than a big win, or a new transfer, insiders see the deal as a significant moment.
The club are set to perform a second test event in front of 25,000 fans on 23 March, after Everton had issues with transport links in their first test.
The hope with a move to Bramley-Moore Dock, is that it will add tens of millions of extra commercial revenue for the club.
Speaking to The i, football finance expert Kieran Maguire explained why having TFG as owners made all the difference for the club: “The Friedkin Group have a very good reputation as far as lenders are concerned and therefore Everton have been able to surf that particular wave and borrow at low interest rates.
“The advantage of this is that while the interest costs during the construction of the stadium were being added to the cost of Bramley-Moore Dock, once it is in operation those interest costs then get charged against profits and therefore have an impact on PSR.
“Taking advantage of The Friedkin Group’s strong corporate status allows Everton to borrow the same amount of money for less interest and therefore it’s beneficial from a PSR point of view.”
Everton look to add Carlos Alcaraz permanently in busy summer
Football Insider Verdict
Carlos Alcaraz joined Everton late in the winter transfer window, and has already become a fan-favourite on the terraces of Goodison Park.
With the Argentine midfielder now 30% of the way to making his move a permanent one, the former Southampton man could be one of a number of transfers happening in the summer.
Dominic Calvert-Lewin and Jarrad Branthwaite have been linked with moves away from the club, and Idrissa Gueye and Abdoulaye Doucoure are both out of contract at the end of the season.
Whilst David Moyes has brought back a sense of hope for fans of the club in recent weeks, there must not be any complacency at the club that his good work justifies skimping out on bringing in reinforcements.
A new winger is a necessity, with Jesper Lindstrom and Jack Harrison both set to leave the club, and even if both Doucoure and Gueye sign extensions, both players are in their 30s.