Kieran Maguire cites Alisher Usmanov amid £100m+ Everton reveal
Everton will use the £130million investment from MSP to finance stadium construction after losing Alisher Usmanov as a source of funding.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about Everton's search for minority investment.
As revealed by Football Insider on 23 June, Everton are set to receive £130million from US investment group MSP Sports Capital.
A Securities and Exchange Commission Form D filed in June confirmed that the cash injection is imminent at Goodison Park.
Everton chairman Farhad Moshiri has claimed that the Bramley Moore Dock stadium could end up costing the Toffees £760million - over £200million more than the club's initial projection.
The Daily Mail reported that Russian businessman Alisher Usmanov was set to sign a stadium naming rights deal at Everton's new stadium before he was sanctioned by the UK government following Russia's invasion of Ukraine.
Maguire believes that Usmanov's sanctions meant that Everton were left with one less source of funding and therefore had to reach out for stadium investment.
"The termination of the relationship between the club and Alisher Usmanov meant that one potential source of funding had now disappeared as far as Everton are concerned," Maguire told Football Insider's Sean Fisher.
"The incoming loan will now provide some much-needed cash and allow them representation on the board.
"It will help to balance the finances of the stadium project and allow the club to complete the construction on time."