Everton secure £350mil stadium financing deal

Everton secure £350mil stadium financing deal

The club said the offering was oversubscribed multiple times, ensuring beneficial competitive terms.

Everton Bramley-Moore Dock EPA 060325
Everton’s new 52,888-capacity stadium is located at Bramley-Moore Dock on Liverpool’s waterfront. (EPA Images pic)
MANCHESTER:
Everton have agreed a long-term financing deal for the Premier League club’s new stadium on Liverpool’s waterfront, securing a long-term, £350 million funding deal to refinance the borrowing already in place on the venue.

Everton’s new owners The Friedkin Group said the funding was agreed with a “consortium of blue-chip institutional lenders” and will see the refinancing of debt that supported the completion of the 52,888-capacity Everton Stadium at Bramley-Moore Dock.

Everton said the offering was oversubscribed multiple times, ensuring competitive terms beneficial to the club.

The Texas-based Friedkin Group announced in September that they had reached an agreement to buy Everton, with the 98.8% takeover completed with Farhad Moshiri’s Blue Heaven Holdings selling its majority stake in December.

The Friedkin Group also owns Serie A club AS Roma.

The new stadium hosted the first of three test events on Feb 17 with an Under-18s match between Everton and Wigan Athletic in front of 10,000 fans.

The Toffees will host their first competitive Premier League game at the venue in August.

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