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Everton confirm new stadium funding plans

“We have started so we will finish,” insists Moshiri

Everton v Huddersfield Town - Premier League Photo by Ian MacNicol/Getty Images

Everton insist they will be able to raise the required funding in order to build their proposed new stadium at Bramley Moore Dock.

It’s been more than 18 months since the Toffees confirmed Bramley Moore as their preferred site for a new stadium.

Since then architect Dan Meis has begun to prepare initial designs whilst there was also an extensive supporter consultation process late last year.

The main obstacle to the project is of course funding, with building on the dockside site reported to cost in the region of £500million.

At last year’s AGM then CEO Robert Elstone said the club hoped to raise the majority of the funding through a deal with the local council.

That sparked consternation among some Liverpool fans, even though the deal wouldn’t impact on the council’s public spending budget in anyway.

12 months on and Everton’s chief finance and commercial Officer Sasha Ryazantsev confirmed the club are in still in discussions with the council but are also exploring alternative sources of funding.

Speaking at the club’s AGM at Liverpool’s Philharmonic Hall, Ryazantsev said:

“We are having very advanced discussions now with financial institutions which are encouraging. The money will be available.”

Farhad Moshiri was equally bullish about the stadium plans and the club’s future in general.

Moshiri’s commitment to the club cannot be questioned, with the 63-year-old having pumped £250million into the club over the past two years.

The Bramley Moore Dock project is likely to be Moshiri’s lasting legacy though and he remains as determined as ever to see it through.

“A new stadium is a necessity. We don’t have a choice. We don’t have a plan B or C.

”It is extremely expensive. It will cost us £100m more than other sites but it is like Mastermind. We have started so we will finish.

”I have spent £250m to turn a museum into a competitive outfit, we will complete the stadium. We will raise £350m through the city, the naming rights will be some more. There is an equity gap of £100m. This club is sufficiently robust to see this project through.

”If we want a big club we need a modern stadium.”