The Friedkin Group appear to have injected more funds into Everton.
TFG completed their purchase of the Toffees last month from Farhad Moshiri via the acquisition vehicle Roundhouse Capital Holdings. And it has been confirmed on Companies House that shareholders of the firm have allocated shares worth £289 million.
Football finance expert Kieran Maguire posted on X that it is likely to be “Fresh cash, mainly for [the] stadium and paying off existing loans”. Since their takeover TFG have looked to improve Everton’s precarious financial situation, with the club losing almost £400 million in the past four years.
They have paid off debt to Rights & Funding, with the Guardian reporting last April that the Toffees were paying £30 million in interest on a loan worth £225 million. Bloomberg reported earlier this week that US financial firm JP Morgan Chase & Co have been instructed to raise £300 million of debt to support a refinancing of the new stadium at Bramley-Moore Dock. It is also suggested JP Morgan have lent Everton a separate loan of £130 million.
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TFG’s sterling reputation means that they are able to get lower interest rates when borrowing money. Everton’s new stadium, which they move to at the start of next season, will increase match-day revenue markedly. The capacity will increase to 52,888 which is an increase of 13,000 from Goodison Park. There will also be more hospitality while TFG have confirmed they want to maximise the stadium’s potential outside of the traditional match-day experience.
After being handed the keys to the stadium last month, Everton’s new executive chairman Marc Watts said: “I feel privileged to be here today to be part of the handover of this magnificent stadium in this stunning, unrivalled location. It is an illustrious moment in the history of Everton and marks a new era for the club on many levels. The stadium will play a key role in supporting our commercial vision for the club – hosting events and activities all-year round – but first and foremost, I have no doubt that it will be a venue that every Evertonian will be proud to call home.”
