Everton Football Club said it has agreed long-term financing for its new stadium on Liverpool’s waterfront.

“The funding, totalling £350 million, is from a consortium of blue-chip institutional lenders, refinancing borrowing that supported the completion of the 52,888-capacity Everton Stadium at Bramley-Moore Dock,” said Everton.

“The offering was oversubscribed multiple times, ensuring competitive terms beneficial to Everton. The financing is part of The Friedkin Group’s commitment to strengthen and stabilise the Club to provide the foundations for on-pitch success.

“As well as providing a new footballing home for Everton, the stadium will be a multi-purpose venue and cultural asset for the city of Liverpool, which is estimated to generate an additional £1.3billion of value for the local economy.

“The stadium has already been selected as a host venue for the UEFA European Championship in 2028, with a strong pipeline of additional revenue-generating non-football events in the works.

Everton received the keys for its new home in December, just days after the completion of a takeover by The Friedkin Group.

The first of three test events was held successfully at the stadium on 17 February, with Everton’s Under-18s hosting Wigan Under-18s in front of 10,000 fans, in line with planning requirements.

“The fit-out of premium lounges and bars is now taking place, in advance of a formal opening for the start of the 2025/26 season.”