Everton secures £350M financing for new stadium

Everton Football Club has secured a £350 million ($450 million) refinancing deal to support the construction of its new stadium at Bramley-Moore Dock, arranged by JP Morgan. This long-term funding replaces previous high-interest loans from the Farhad Moshiri era, effectively reducing interest payments by more than half and simplifying the club's debt structure. The Friedkin Group, which acquired the club last December, has emphasized the importance of this financing in stabilizing the club's financial foundation and is projected to generate an additional £1.3 billion for the local economy. The new stadium, set to open in August, will host a variety of events including UEFA matches and is expected to boost revenue significantly. The financing was oversubscribed, leading to favorable terms for Everton, and marks a critical step in the club’s ongoing financial restructuring. Everton aims to leverage the new venue to improve its on-pitch performance after years of financial instability.