Everton insiders say the club has gone from “payday loans” to a “sensible long-term mortgage” in a £350m stadium financing deal that will have a direct impact on the size of David Moyes’ summer transfer war chest.
The new arrangement – with a consortium of blue-chip lenders that includes JP Morgan – is “decades-long” and at a low enough rate of interest to save the club as much as £50m a year in interest payments on the debt accrued building their new 52,888 stadium at Bramley-Moore Dock.
The i Paper understands that money will be reinvested in the playing squad this summer, with the club benefiting hugely from the reduced payments from a Profitability and Sustainability Rules (PSR) perspective.
The previous financial arrangements, which involved a myriad of lenders on high interest rates, were a huge burden on the club’s bottom line. With Everton limited to a rolling three-year loss of £105m a year, it was part of the reason why they have had to sell players to comply with the rules.
All that is now wiped out and in the words of one insider, the club can now “attack” a summer transfer window in which a huge overhaul of players is anticipated.
Moyes has already begun work on the recruitment process, though the focus remains on securing enough points to rubber stamp Premier League survival.
There may be a degree of ruthlessness around recruitment decisions, with Everton opting not to trigger a clause in Abdoulaye Doucoure’s contract to extend his contract by another year on similar terms.
The 32-year-old is one of 13 players out of contract or whose loan deals are due to expire in the summer.
Off the pitch, though, there are seriously encouraging signs. The stadium financing agreement is a key part of the Friedkin Group’s plans to “stabilise and strengthen” the club’s financial position and lay foundations for success on the pitch.
There is a sense of urgency around the club that reflects the desire to rebuild Everton as soon as possible.
Indeed The i Paper understands that an announcement on a new CEO – with Leeds’ Angus Kinnear lined up for the key role – is imminent and confirmation of that could even arrive before the end of this week.
LIVERPOOL, ENGLAND - FEBRUARY 17: In this aerial view fans arrive for the first ever game, a test match, at Bramley Moore Dock, the new home of Everton Football Club on February 17, 2025 in Liverpool, England. The friendly match between the Everton Under-18s and the Wigan Athletic Under-18s marks the first test event for Everton's new stadium at??Bramley-Moore Dock??in Liverpool, with an expected 10,000 supporters in attendance. The stadium was completed late last year, and the first competitive fixture is scheduled to take place in August. (Photo by Christopher Furlong/Getty Images)
The new funding deal amounts to £350m (Photo: Getty)
Other important behind-the-scenes appointments are also in the offing, with a revamp of recruitment under consideration.
The Friedkins are planning a reshuffle of the women’s team too and are committed to turning them back into contenders in the Women’s Super League. There is some support internally for the proposal to make Goodison Park their official home, but it is considered costly and is yet to be agreed.
A blueprint for their ownership is emerging with the financing deal: investment to grow the club but on a sustainable, sensible basis. And while it might not get the juices of fans flowing in the same way as Moyes’ team have recently, insiders see it as a significant moment.
Thanks to the Friedkins’ financial reputation, the offering was over-subscribed multiple times and the group were able to play various lenders off against each other to secure a “very low” interest rate on favourable terms.
There is a hope that moving to Bramley-Moore Dock, which will have its second test event in front of 25,000 fans on 23 March, could add tens of millions of extra commercial revenue for the club.
Everton say they already have a series of non-football events lined up to help them cash in, while a stadium naming partner is also being considered. Securing this debt deal is a big step forward for the club, football finance experts say.
“The Friedkin Group have a very good reputation as far as lenders are concerned and therefore Everton have been able to surf that particular wave and borrow at low interest rates,” Kieran Maguire told The i Paper.
“The advantage of this is that while the interest costs during the construction of the stadium were being added to the cost of Bramley-Moore Dock, once it is in operation those interest costs then get charged against profits and therefore have an impact on PSR.
“Taking advantage of The Friedkin Group’s strong corporate status allows Everton to borrow the same amount of money for less interest and therefore it’s beneficial from a PSR point of view.”