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Usmanov strengthens Everton ties with option on new stadium naming rights

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Russian billionaire Alisher Usmanov has strengthened his ties with Everton after paying £30million up front to secure an exclusive option on naming rights for the club’s proposed new stadium.

“These results reflect our position in the early stages of a long-term investment cycle.”

Usmanov’s holding company USM already sponsors the club’s Finch Farm training ground and the Russian tycoon has now ploughed in further money with an agreement in place for the naming rights for Bramley-Moore Dock, which is scheduled to be completed by 2023.

The latest Usmanov investment was revealed as Everton published their accounts for the 13 months – due to a realignment of their accounting period – showing the club made a loss of £111.9m despite posting the second-highest revenues in their history of £188m.

A contract has already been agreed on a deal for the rights for the new ground and Usmanov’s £30m buys him first option of pursuing that at current market rates once the build is near completion.

“Last year I shared with you our club’s long-term vision to establish Everton as an elite club challenging at the very top of domestic and European competitions,” said chief executive Denise Barrett-Baxendale.

The 66-year-old, who sold his shares in Arsenal for a reported £550m in the summer of 2018, is a long-time business partner of the Toffees’ majority shareholder Farhad Moshiri and has been linked with buying a stake in the club.
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