Everton say that there has been no change in the costs for the construction of their new stadium at Bramley Moore Dock.
The Blues will leave Goodison Park, their home since 1892, to take up residence in their new 52,888-seater home on the banks of the River Mersey from the start of the 2024/25 season, the project having been central to owner Farhad Moshiri's plans to grow the football club he acquired in 2016.
The cost for the project has been pegged at around £505m by sources close to the club, with the club having moved to fix costs with the firm responsible for the construction of the stadium, Laing O'Rourke, early last year. Fixing costs was a way of shielding the club from some of the rising costs of construction, particularly steel, related to Russia's military invasion of Ukraine.
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But in a rather impromptu interview with talkSPORT last month, Moshiri told listeners that the cost of development was as high as £760m, a figure some £260m more than had been suggested.
"Building a £760m stadium, one of the best in the country, is an enormous challenge for a club," said Moshiri on January 12.
"They (Everton supporters) need to acknowledge that they are going through a transformation and they (the Everton board) are working extremely hard."
Everton, who have found themselves under scrutiny in recent seasons in relation to the Premier League's profit and sustainability rules, are still to source the remainder of the funds for the stadium, although it is understood that there is progression on that search, facilitated by US investment banks MUFG and JP Morgan Chase, while part of the build is to be funded my Moshiri himself.
Club sources had informed the ECHO last month that the figure Moshiri quoted in his interview was inclusive of every facet of stadium development, from pre-build to potential ancillary development around the city.
In response to a series of questions from Everton's Fan Advisory Board (FAB) on Monday, the club addressed the figure directly, the answers given to the FAB having had input from board members and other senior club officials.
"The cost of the new stadium has not risen by 50 per cent," the club response read.
"The construction costs of the stadium have not changed. In April 2022, the Club signed an agreement with Laing O’Rourke that provided cost certainty on the stadium.
"Following a recent interview with Mr Moshiri on talkSPORT a figure was referenced which considered the costs not just associated with the build of the stadium but also the planning and preparatory stages of the project, financing, ancillary and potential developments in the local area.
"As per the budget the club has in place for the project, there has been no change in the costs of constructing the stadium."
In the Q&A answers given the the FAB, the club also acknowledged the financial set up of the stadium build, stating that they would be putting in place a StadCo structure, a company that will own and operate the stadium as a subsidiary of Everton Football Club.
The club statement read: "The new Everton Stadium is owned by ‘Everton Stadium Development Ltd’ which is a wholly owned subsidiary of Everton Football Club.
"Everton Stadium Development Ltd is a wholly owned subsidiary of Everton Football Club. The company sits within the Everton group of companies. Moving forward the Club is putting place a 'StadCo’ structure which is commonly seen in stadium financing."
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