Everton secure 350 million pounds stadium financing deal

MANCHESTER, England - Everton have agreed a long-term financing deal for the Premier League clubs new stadium on Liverpools waterfront, securing a long-term, 350 million pounds ($450.49 million) funding deal to refinance the borrowing already in place on the venue.

Evertons new owners The Friedkin Group said the funding was agreed with a consortium of blue-chip institutional lenders and will see the refinancing of debt that supported the completion of the 52,888-capacity Everton Stadium at Bramley-Moore Dock.

Everton said the offering was oversubscribed multiple times, ensuring competitive terms beneficial to the club.

The Texas-based Friedkin Group announced in September that they had reached an agreement to buy Everton, with the 98.8% takeover completed with Farhad Moshiris Blue Heaven Holdings selling its majority stake in December.

The Friedkin Group also owns Serie A club AS Roma.

The new stadium hosted the first of three test events on February 17 with an Under-18s match between Everton and Wigan Athletic in front of 10,000 fans. The Toffees will host their first competitive Premier League game at the venue in August. REUTERS

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