Michael Kenrick 06/03/2025 14comments  |  Jump to last

Everton have agreed a massive financing deal for the club's new stadium on at Bramley-Moore Dock, securing a long-term £350M funding deal to refinance the borrowing already in place for the project.

The Friedkin Group said funding was agreed with a "consortium of blue-chip institutional lenders" that will see the refinancing of debt which was taken out to facilitate construction of the new stadium over the last 4 years.

 TBR Football’s Finance Expert Adam Williams has shared his understanding of how the stadium financing could affect Everton’s PSR stance.

“We don’t know the specifics of the new loan deal, but what Everton have done here is stretched out their repayments at a more favourable interest rate,” Williams said.

“The previous financing arrangement was probably at 11-12 per cent, which means Everton would have been paying over £30M per year in interest.

“The new deal will have a longer term and a lower rate, which eases the burden on the club both in terms of cash flow and PSR.

“It also means that they can capitalise on the revenue for Bramley-Moore Dock more effectively.

“Investment in the stadium is exempt from PSR during the construction phase, but once it’s operational, that annual £30M would have come out of their PSR calculation.”

Paul Quinn believes that the transaction has been put together under the guidance of JP Morgan Chase, a US bank which arguably is the market leader in these forms of financing packages.

Typically these packages include fixed interest debt with a range of maturities from 15 years upwards. Tottenham Hotspur and Arsenal have both funded their stadium developments in a similar manner.

 

 

Reader Comments (14)

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Paul Hewitt
1 Posted 06/03/2025 at 13:19:03
Seems a good deal. But what do I know.
Paul Hewitt
2 Posted 06/03/2025 at 13:30:34
Off topic a bit. But anyone know what happened to the 777 loan. Did TFG pay if off, or is it still on going,?
Michael Kenrick
3 Posted 06/03/2025 at 13:40:00
I think that's quite relevant, Paul — it could well be one of the loans covered. But TFG have been very coy about providing details of the loans they have paid off, reconfigured, recapitalized, renegotiated, or just left in place.

Perhaps the fact that Josimar have let slide their almost weekly barrage of bad news about 777 Partners can be taken to indicate that they are no longer in play… or is that wishful thinking???

We probably won't see much published on these loans and the question of their interest payments until the Annual Accounts are put out by the club — which should be later this month. But those will be for the last Financial Year, ending at 30 June 2024.

This current restructuring won't feature until the following year's Annual Report and Accounts… so stay tuned if you can until March 2026 when those should hit the streets.

Bobby Mallon
4 Posted 06/03/2025 at 14:05:51
What about the fucking naming rights???
David Israel
5 Posted 06/03/2025 at 14:50:05
Michael, am I right in saying that the 777 debt had been taken on by A-CAP, and then taken care of amidst the financial gimmickry (things like conversiion of debt into equity and issuance of new shares), that took place around the TFG?
Michael Kenrick
6 Posted 06/03/2025 at 16:42:28
David @5,

I think there was talk that it was one of the first problematic things to be resolved. After all, lingering uncertainty over possible legal implications were supposedly the reason why TFG walked away initially… then presumably worked behind the scenes to get an acceptable resolution of the whole 777 Partners / A-CAP thing that TFG could live with going forward.

So yes, I think you're right, David: it must have been taken care of early on. But I don't recall seeing anything describing exactly how that was accomplished, so all part of the cloak-and-dagger financial gimmickry to which you refer!

Peter Moore
7 Posted 06/03/2025 at 20:42:10
I think the naming rights will come after the resolution of the ongoing legal dispute about related party transactions.

As it involves Man City, maybe the outcome will arrive on the 12th of Never, the 32nd of the month or any time in Octember. 🤔

Dennis Stevens
8 Posted 06/03/2025 at 20:55:55
Nowonder!
Ian Bennett
9 Posted 06/03/2025 at 20:56:20
Michael 3 - surely companies house records have evidence of an active charge over the assets from 777 or see them released?

Jerome Shields
10 Posted 06/03/2025 at 21:46:06
This was one of the main aims of the TFG owning Everton was the Financial Restructuring of the Club. The Stadium Financing being part of that.
Peter Mills
11 Posted 07/03/2025 at 10:25:13
In the light of news elsewhere today regarding Liverpool City Council, it is perhaps fortunate we didn’t do a deal with them.
Richard Starkey
12 Posted 07/03/2025 at 22:22:40
Former Mayor of Liverpool Joe Anderson and Derek Hatton charged with bribery and misconduct

I wondered how we managed to get planning permission for Bradley Moore Dock.

Derek Thomas
13 Posted 07/03/2025 at 23:18:52
Richard @ 12; Peel probably 'sorted it out' with the Council...nod, nod, wink, wink, taps nose, brown envelope, know what I mean? say no more squire...allegedly.

Joking aside, I'm sure all parties took part in what was a full and exhaustive examination and consultation process, before arriving at a decision...nod, n

John Davies
14 Posted 12/03/2025 at 17:01:34
777 Partners have been sued by multiple organizations for unpaid debts and contract breaches with lawsuits describing their financial practices as a "house of cards and a "sprawling fraudulent enterprise"

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