Keith Wyness: Everton’s Move Is ‘On Track’ Following Recent Developments
Former Everton chief Keith Wyness insists the club is now "at the end of the road" in developing their new 52,888-seater stadium.
On a recent episode of Football Insider’s Inside Track podcast, the 66-year-old, who was CEO at Goodison Park from 2004 to 2009 and currently runs a football consultancy for elite clubs, estimated that around £60 million is still needed to complete the project by the end of this year.
Everton’s interim chief executive, Colin Chong, announced in his program notes last week that the club has secured the necessary funding for their new stadium.
The £200 million loan from The Friedkin Group, who recently withdrew from a takeover deal, played a crucial role in finalizing this funding.
Chong also stated that the construction at Bramley-Moore Dock is nearly complete, with current efforts focused on finishing the concourses, internal areas, and public spaces.
Wyness criticized Moshiri’s approach to the stadium project, stating that Everton is now nearing the end of their journey towards opening their new state-of-the-art home for the 2025-26 season.
During the podcast, Wyness explained: “There’s about £60 million remaining for the stadium fit-out. It was important for the club to clarify that the loan from Friedkin covers this amount.
The stadium itself is the security for this loan, which makes sense—it wouldn’t be logical for an unfinished stadium to serve as collateral. So, this is positive news.
“We’re almost at the finish line now, and it’s going to happen.
There were moments when it was uncertain, with serious funding challenges. At one point, there was a need to find £300-400 million.
Moshiri handled things incorrectly; there should have been a comprehensive plan from the start, which is standard for such projects.
He realized that global events, like the Ukraine war and fluctuating interest rates, can significantly impact plans.
The entrance of 777 Partners was due to that vulnerability, but now we’re in a position to complete the stadium.
“Following this, there will be six to seven months of test events and concerts, which are vital for generating revenue.
The new stadium is set to be both incredible and globally iconic.”
