After years of make-do funding, driven by the previous ownerships and all the complexities Moshiri brought to the table, Everton under the new ownership of The Friedkin Group have to day announced a senior funding package of £350 million from a consortium of blue-chip institutional lenders.
The club has not provided any detail as to the lenders, the terms of the debt, nor the structure of it.
It is widely believed that the transaction has been put together under the guidance of JP Morgan Chase, a US bank which arguably is the market leader in these forms of financing packages.
Typically these packages include fixed interest debt with a range of maturities from 15 years upwards. Tottenham Hotspur and Arsenal have both funded their stadium developments in a similar manner.
The current interest rate environment is complex, and whilst not at the levels enjoyed pre Covid, should represent good long term value.
Above all else, this represents security and stability for the club as we seek to move on from the chaos of the past.
More to follow
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