Steve Rotherham reports loan negotiations at Goodison Park in the Everton news.
According to Steve Rotherham, discussions were undertaken about giving Everton a £30 million loan in addition to a £ 15 million grant to assist finance the club’s new Bramley-Moore Dock stadium.
In a column written for the Liverpool Echo on Tuesday [26 September], the Metro Mayor of the Liverpool City Region revealed the financing twist.
Everton’s dire financial predicament is well known, yet they were still able to find other ways to pay for their new stadiums.
“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 remain unchanged.
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.
