Everton secure 350 million pounds stadium financing deal

MANCHESTER, England : Everton have agreed a long-term financing deal for the Premier League club's new stadium on Liverpool's waterfront, securing a long-term, 350 million pounds ($450.49 million) funding deal to refinance the borrowing already in place on the venue.

Everton's new owners The Friedkin Group said the funding was agreed with a "consortium of blue-chip institutional lenders" and will see the refinancing of debt that supported the completion of the 52,888-capacity Everton Stadium at Bramley-Moore Dock. 

Everton said the offering was oversubscribed multiple times, ensuring competitive terms beneficial to the club.

The Texas-based Friedkin Group announced in September that they had reached an agreement to buy Everton, with the 98.8 per cent takeover completed with Farhad Moshiri's Blue Heaven Holdings selling its majority stake in December.

The Friedkin Group also owns Serie A club AS Roma.

The new stadium hosted the first of three test events on February 17 with an Under-18s match between Everton and Wigan Athletic in front of 10,000 fans. The Toffees will host their first competitive Premier League game at the venue in August.

($1 = 0.7769 pounds)