Featured image credit: Everton FC
JPMorgan Chase & Co. is reportedly in talks with institutional investors about raising more than £300m (€362m/$373.4m) of debt to back a refinancing venture for Everton Stadium.
Bloomberg said the US financial services firm is also providing a loan of £130m to The Friedkin Group (TFG) for the Premier League football club it completed a takeover deal for last month. The news agency said considerations are at an early stage and details of the debt financing could change.
Everton announced on December 19 that it had been acquired by Roundhouse Capital Holdings, an entity within TFG. The transaction was finalised following an agreement between Farhad Moshiri’s Blue Heaven Holdings and Roundhouse for the sale of the former’s majority stake in the club. The deal was reportedly worth in excess of £400m.
US consortium TFG also owns AS Roma and is attempting to push forward with a project to deliver a new stadium for the Italian Serie A club in the Pietralata district of Rome. In July, Roma gave the first look at the design concept for its proposed new home, with the club stating it will feature the largest single stand in Europe.
TFG yesterday (Tuesday) issued a message across its social media platforms, hailing a “new era” for Everton through the delivery of the new stadium.
Everton last week announced that the first test event for its new stadium will take place next month as it gears up for full opening ahead of the 2025-26 season.
The Merseyside club set out plans for three test events, commencing with an Under-18s friendly fixture on February 17 in front of a capacity of 10,000 spectators. Everton’s Under-21s will then play a friendly for the second test event in late March or early April, when the capacity will be increased to 25,000. A third test event will be held later in the current season.
Everton formally took control of its new home at Bramley-Moore Dock prior to Christmas. The handover came three-and-a-half years after the commencement of the project back in August 2021.
Everton is now overseeing the six-month fit-out phase of the project. This will include interior design specialists, tradesmen and women and audio-visual engineers completing the stadium’s bars, restaurants and experiences, and retail spaces.
TFG has financially supported the stadium development and the club through an initial loan investment in the summer and with funding during the change of control process.
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