The holding company behind Everton’s new stadium on the banks of the River Mersey has secured some external funding, according to public documents made available via Companies House.
Everton Stadium Development Holding Company Limited (ESDHC) incurred a charge on May 19, a development that relates to funding being sourced from a lender.
The charge in this case specifically relates to the stadium’s holding company, with an agreement with an agent, Ormskirk-based Blythe Capital, detailed.
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Blythe Capital, founded by Everton fan Andrew Bell, former chief of the successful AJ Bell investment firm, is detailed as the agent but that does not mean that Blythe Capital are the lender in this particular case.
The Companies House charge states that ‘the lenders have agreed to make a loan to the borrower (ESDHC) relying on, among other security, the security interest created in this deed’.
The charge relates to the securing of external funds by ESDHC, for an unspecified amount of money, potentially as some form of bridging loan to ensure the continued development of the stadium build at Bramley-Moore Dock at a time when the club are in an exclusivity period with US firm MSP Sports Capital, who are set to take a 20 to 25 per cent stake through a preferential share structure. The deal is set to provide the final tranche of funding for the construction of the 52,888-seater stadium.
Charges are commonplace when it comes to the business practice of football clubs, with charges related to the raising of funds for various needs by borrowing money. Once a loan agreement has been closed and paid in full the charge will be recorded as satisfied via Companies House.
The charge that appears for ESDHC is believed not to be related to New York-based MSP Sports Capital and not impactful with regards to the firm’s own investment plans for the new stadium.
It is the first charge that ESDHC has incurred with the development thus far having been financed largely by Everton club owner Farhad Moshiri.
Everton were unable to comment on the matter when contacted by the ECHO.
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