While Everton’s struggles have been well documented in the last 6 months or so. Though their majority shareholder’s, Farhad Moshiri, commitment have never come into any kind of scrutiny. The fans, while having questioned their decision making but have remained positive about their backing given to the club.
In the Annual general meeting held by the club on Tuesday, Chief Executive Officer Denise Barrett-Baxendale announced a new deal strengthening the ties of the club with the billionaires.
Alisher Usmanov strengthens ties with club
Alisher Usmanov’s company, USM, have earned the naming rights of Everton’s new stadium in a deal worth £30 million. The proposed stadium is been targeted to be built until 2023. The stadium is set to cost around the £500 million mark. With the majority of the funding coming from various other private funding sources.
Usmanov’s firm has also been sponsoring Everton’s Finch Farm training ground since 2017. USM will pay the fee first up to the sponsor club’s new Bramley Moore Dock stadium.
Alisher Usmanov has been reported to be looking to invest in a Premier League side. After selling his Arsenal stakes to the majority shareholder, Stan Kroenke.
This money is expected to be spent in building the stadium itself. The deal, which was reportedly agreed last week, marks the Russian billionaire’s commitment towards the club.
Everton announces a massive loss
Though it wasn’t all good news for the Toffees. As the club reported a massive loss of £111.8m for the previous financial year. Much of this loss can be attributed to the club’s flexing of muscles in the transfer window.
Alex Iwobi, Andre Gomes, Fabian Delph and Yerry Mina are some of the names bought to the Goodison Park by Farhad Moshiri in the last few years. Though not all have them have flourished and have had an adverse effect on the financial sheet of the club without bringing any considerable success to the club.
Everton are currently sitting at 11th on the Premier League points table. They are looking for an uprise in the form under newly appointed manager, Carlo Ancelotti.