Everton stadium update emerges as 10s of millions likely to be pumped in by Friedkin - report

The Friedkin Group’s cash injection at Everton prior to their takeover being completed is likely to run into tens of millions of pounds, the Liverpool Echo reports.

According to Dave Powell via the outlet’s website on 1 October the prospective new owners will now fund the new stadium construction project through to completion, as well as providing further working capital as required in the short term.

TFG lent £200million to the Toffees in the summer on their original push for a takeover, paying off previous lenders MSP Sports Capital along the way [Paul Joyce, 14 June], and the latest financial assistance is expected to be significant.

Dan Friedkin to pay off Everton stadium after Farhad Moshiri deal

The financing for the stadium has been an ongoing concern amid the financial concerns of the past couple of years but it looks to be finally addressed by the incoming owners.

Assuming there is no dramatic withdrawal from Friedkin this time, as there was in July, it finally looks like the money headaches at the club may soon be over.

The American is said to have set up individual agreements with different Everton lenders as part of the work that went in to secure his takeover agreement with Farhad Moshiri [Alan Myers, 23 September].

The club’s debt to TFG itself is likely to be turned into equity, while the new stadium’s completion looks now to have certainty in terms of where the money will come from.

While Friedkin is predicted to want to spend in the January transfer window the PSR picture is expected to make that a tighter affair, although there is said to be some “wiggle room” to work with still [Matt Slater, 27 September].

The new stadium may ultimately prove to be the primary positive of Moshiri’s lasting legacy but the construction has put a severe strain on the club’s resources, and the financing for it a key disputed element of the PSR punishments that saw two points deductions handed down last term and a third still potentially hanging over them.

The overall cost of the project ballooned from what was originally quoted and concerns over work being interrupted emerged during the chaos of 777 Partners’ takeover falling apart last term [Joyce, 30 April].

But it looks like Friedkin’s return to the frame has secured the situation once and for all, and the sooner he gains Premier League and regulatory approval for the buy out to be completed the better.

In other Everton news, Friedkin’s arrival has made one starting player’s eventual exit almost certain.

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