According to the commission’s report the stadium is being funded by Moshiri. One of the mitigating factors pushed by Everton, was that they believed they were allowed to offset interest from non stadium loans they have against their stadium cost and lower their PSR calculations. Their argument was that had they borrowed the money Instead of Moshiri putting the money up, then they’d have been allowed to do so.
Moshiri has invested £400m over the past 3 yrs which appears to have funded the stadium so far along with £140m loan from MSP. Apparently they still need to find circa £200m to complete the project.
What doesn’t make sense is, what’s in this for Moshiri?
His total investment in Everton is circa £900m, including his purchase of shares and of this amount he’s owed around £500m in shareholder loans.
They have around £365m in external debts owed to MSP/R&M/Santander & 777 are pumping cash in to keep them afloat.
if 777 pay £500m to buy them out, Moshiri stands to get very little /nothing back which begs the question, is he stupid or does he have other plans for this stadium?