Steve Rotherham has revealed that discussions have taken place to lend Everton £30 million, in addition to a £15 million grant, to help construct the club’s new stadium at Bramley-Moore Dock.
The financing twist was revealed in a piece written for the Liverpool Echo on Tuesday 26 September by the Metro Mayor of the Liverpool City Region.
Everton’s dire financial predicament has been widely publicized, yet they were able to raise funds for their new stadiums through other ways.
Such is its strategic importance that, as a city region, talks were held with the Combined Authority I lead to loan the club £30 million at a competitive rate of interest, which would have delivered returns for us to reinvest into projects across the region, in addition to a £15 million grant to preserve the site’s heritage and improve public access, according to Rotherham.
The club was able to find a different financing source, but the project’s significance and our dedication to completing it have not changed.
Plenty of questions
If approved by the Premier League, the contentious 777 Partners acquisition at Goodison Park does little to really ease Everton’s financial concerns.
Many people have questioned how much money would be invested in the team and how.
However, the fact that the Toffees thought they could decline a sizeable payment from another source implies they do not worry about being able to pay for the stadium till it is finished.
If all goes well, the arena will be finished around December of next year and be a crowning achievement for Liverpool.
That is why the Liverpool City Region Combined Authority allegedly agreed to give £15 million as part of a grant and a sizable loan, according to reports.
Just let’s hope that this isn’t a choice that the club regrets later.
