Kieran Maguire: ‘People are starting to ask questions’ amid £260m Everton mystery
Farhad Moshiri raised eyebrows at Everton following his claim that the new stadium at Bramley-Moore Dock will cost an extra £260million than expected.
That is the view of finance guru Kieran Maguire, who spoke exclusively to Football Insider about the uproar following the announcement from the majority owner of the Toffees.
Moshiri publicly addressed Everton fans this week after supporters piled pressure on the 67-year-old to break his silence regarding the board, their poor decision-making and the club’s transfer activity.
As part of his message to Toffees fans, Moshiri revealed that the club’s new stadium – situated at Liverpool’s Bramley-Moore Dock – will cost £760million to construct.
The figure is an entire £260million higher than the initial projections released by the club, with The Times reporting in April that Everton “locked in” a construction fee of £500million for their project.
Maguire believes this stark rise in construction costs has only made Everton fans even more sceptical about Moshiri and his running of the club.
“The comment by Moshiri has raised eyebrows,” Maguire told Football Insider’s Adam Williams.
“The club only a couple of years ago said there was a fixed-price deal in respect of the stadium.
“Now, that has substantially increased.
“People are starting to ask questions about whether the fixed price deal was feasible at a time of rising raw material and labour costs.
“Additional funding would have to come either from Moshiri or his associates, but some of it could still come from the money markets themselves.
“Although, interest rates have risen following the invasion of Ukraine and much broader economic challengers.“
In other news, a pundit believes Frank Lampard is on his way out at Everton amid ‘huge’ development