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Everton have the chance to emulate Tottenham and secure a £32m-plus financial boost that could be transformative for the club.
Everton are, their supporters will hope, in the final throes of a takeover saga that has now gone on for well over a year.
Both Everton and Spurs are seeking investment at the moment, but the litany of issues with the process at Everton is emblematic of the disparate levels of competence displayed at both clubs in recent years.
Under chairman and co-owner Daniel Levy, Spurs are considered one of the best run clubs in world football.
Soon-to-be ex-Everton owner Farhad Moshiri is at the other end of the spectrum following years of struggled against Profit and Sustainability Rules and now a mounting debt problem.
One thing the two owners do have in common, however, is that they have both initiated moves to new stadiums for their respective clubs.
The Tottenham Hotspur Stadium has been a riotous success, generating almost £120m in annual matchday income and amplifying the Spurs brand worldwide.
Everton’s move to Bramley Moore Dock will be transformational for the club, but questions still remain about how the club will fund the remaining construction costs.
Speaking exclusively to TBR, Liverpool University football finance lecturer Kieran Maguire said that Everton need to find around £70m to see the stadium project through.
Everton can match £32m Spurs funding deal
According to a report in the Sunday Mirror (relayed by Goodison News) earlier this month, Man United recently sent a team on a fact-finding mission to Bramley Moore.
United are in the process of fashioning a plan to redevelop their own stadium, with either a major redevelopment of Old Trafford or a move to a new stadium entirely both on the cards.
United co-owner Sir Jim Ratcliffe has said that he thinks there is good case for public funds to be spent on the stadium because of the economic benefits to the city of Manchester.
This proposal clearly is being considered, with then opposition leader Sir Kier Starmer visiting Old Trafford earlier this year and Manchester Mayor Andy Burnham saying public funds will be required.
Could Everton go down the same route?
The club previously secured a significant funding package from Liverpool City Council, although they ultimately decided to go with another lender.
That saga caused some controversy in the city of Liverpool, with an investigation launched into the money spent on exploring the possibility of a loan to Everton.
However, many experts believe that the new Labour government, who many believe will sanction greater public spending, represents a chance to resurrect this plan.
If they did so, they would also be following in the footsteps of Tottenham.
Levy and his peers in the Spurs boardroom secured £32m of public funds for the 62,850-seater stadium opened in 2019.
TBR Analysis: What can Everton learn from Tottenham’s stadium operation?
Matchday income is expected to at least double to beyond £40m at Bramley Moore Dock compared to Goodison Park.
What’s, the Toffees can squeeze even more cash out of the state-of-the-art venue if they take a leaf out of Tottenham’s book.
Spurs have been masters of using their venue for non-football events, which generate an eight-figure return every season.
They are also believed to earn almost £1m per match from catering alone, and they have used their stadium to strike commercial partnerships with the likes of Formula One.
One area they have failed is with a naming rights deal.
Spurs were at one point looking for £20m per season for the naming rights for the arena, but securing a sponsor has proved difficult.
However, a recent report from industry experts Kroll said the UK naming rights market is worth £75m, and Everton could be beneficiaries of this.
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