Everton have received a “very big” positive after interim chief executive Colin Chong revealed the club will be able to self-fund the rest of the new stadium development.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider the loan provided by The Friedkin Group must have been sufficient to help repay the debt to MSP Sports Capital and provide some extra cash to complete the new stadium on Bramley-Moore Dock.
Everton started work on the development in 2021, with the club expected to make the move from Goodison Park ahead of the 2025-26 season.
Despite the new stadium being projected to cost around £500million, it is now expected to set the Merseysiders back more than £800million.
It comes at a time when Everton’s finances are a concern, with the club likely to face cash-flow issues later this year due to their ownership issues.
But speaking to Sky Sports on 14 August, Chong admitted the takeover situation hasn’t impacted the stadium development and the club should now be able to “self-fund” the remainder of the project.
Everton have removed one off-field headache after stadium reveal
Borson believes that will take one of the headaches off the table for Everton as they look to resolve their off-field issues.
“I have seen the interview, so it’s not really a misquote,” Borson told Football Insider.
He may not quite have meant what he said, but let’s assume he did, and certainly let’s assume he’s not misleading anybody.
“That’s an important development.
“It suggests whatever went in from Friedkin in terms of repaying the debt that was there and also giving them a bit extra, whatever deal was done there was sufficient to fund the remaining fit out of the stadium.
“That is clearly a very big positive for Everton because it takes one of the headaches off the table.
However, it still doesn’t affect the other requirements they have for funding the operating losses in the club on a monthly basis, particularly in respect of the wage bill.
“So, it isn’t the full answer, but it is very good news for Everton.
