March 26 – Premier League Everton have secured a £350 million financing package to refinance the costs of building their new stadium at Bramley-Moore Dock, a move that is expected to save the club tens of millions of pounds annually in debt repayments.
The deal, arranged by Everton’s new owners, The Friedkin Group, in partnership with investment bank JP Morgan, replaces costly loans taken out under former majority shareholder Farhad Moshiri. According to the club, the offering was “oversubscribed multiple times” allowing them to secure competitive terms that will significantly ease financial pressures.
Everton had been burdened with high-interest debt after Moshiri was forced to abandon his initial pledge to self-fund the £800 million project. The club instead turned to loans secured against rights and media income, MSP Sports Capital, and 777 Partners – the latter being the investment firm that attempted but failed to purchase the club before its financial collapse.
The shift in Moshiri’s financing plans stemmed from geopolitical complications following Russia’s invasion of Ukraine in 2022, which led to the sanctioning of his business partner and key Everton sponsor Alisher Usmanov. The loss of Usmanov’s financial backing forced the club to take on external debt at a time of rising interest rates.
The refinancing package marks a crucial step in The Friedkin Group’s overhaul of Everton since acquiring a 98.8% stake in December. The Texas-based firm, which also owns Serie A club AS Roma, has prioritised financial stability as part of its strategy to rebuild the club’s fortunes on and off the pitch.
Everton will move into the 52,888-capacity stadium next season, replacing Goodison Park as their home, next season. The venue is also expected to become a major asset for the city of Liverpool, with projections of £1.3 billion in additional economic impact. It has already been selected as a host venue for UEFA Euro 2028 and is being positioned as a multi-purpose destination for high-profile events.
The first of three test events at the new ground took place on February 17, with 10,000 fans attending an Under-18s match against Wigan Athletic. Everton’s first Premier League fixture at the stadium is scheduled for August, with the final construction phase now focused on fitting out premium lounges and hospitality areas ahead of the grand opening.
Contact the writer of this story, Harry Ewing, at moc.l1743268114labto1743268114ofdlr1743268114owedi1743268114sni@g1743268114niwe.1743268114yrrah1743268114