Everton’s new stadium remains on schedule to be completed in the 2024/25 season with investment talks over the funding of the project continuing after the Premier League referred the club to an independent commission for an “alleged breach” of profit and sustainability rules.
An article published by the Daily Mail on Monday claims that the charge “could delay the completion of their new stadium with potential funding partners reluctant to commit until the matter has been resolved.”
However, while there are many potential reasons why the date of finishing Everton’s 52,888 capacity future home could, in theory, be delayed such as adverse weather conditions or accidents on site, Everton officials believe there are no issues with funders in any shape or form and last Friday’s announcement from the Premier League is not impacting on investment.
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Negotiations over how to structure a deal with New York-based investment fund MSP Sports Capital are continuing after co-founders Jahm Najafi and Jeff Moorad, along with vice president Peter Taylor attended Everton’s 2-1 home defeat to Southampton in January and Blues chiefs have always been confident about financing the £500million development through both owner Farhad Moshiri and external sources.
In terms of the alleged breach, Everton believe as a football club, they haven’t done anything wrong and responded to charge by stating: “Everton is prepared to robustly defend its position to the commission. The club has, over several years, provided information to the Premier League in an open and transparent manner and has consciously chosen to act with the utmost good faith at all times.”
Since moving into the new stadium site at Bramley-Moore Dock in August 2021, progress has remained on track to the three-year timetable and over the past week, the final pour completed the concrete structure, ensuring only externals and brickwork now remain in terms of erecting the main building.
Everton also announced in April last year that they had reached an agreement with contractors Laing O’Rourke to lock-in the construction costs to avoid the kind of pitfalls that befell Tottenham Hotspur when their new stadium bill jumped by around two-and-a-half times their early estimate of £400million to around the £1billion mark.
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