Everton ‘pressure’ mounting as £150million Goodison Park update emerges
The ex-Everton scout claims that the more loans the Toffees take out, the more trouble they could find themselves in.
It comes after a report in Bloomberg (14 May) revealed that GDA Luma Capital had offered the club a loan of as much as £150million to help complete their new stadium.
But King – speaking exclusively to Goodison News – isn’t necessarily sure that this is a good thing.
“More loans are a problem,” King said.
“If they don’t have a new owner to clear these loans then it is putting more pressure on the club.
It once again feels as if this is a short-term solution for a long-term problem.
There is no doubt that the club is in immediate financial trouble and therefore in need of short-term solutions such as loans.However, these loans will need to be paid back, and while this might solve their current financial issues, it could create bigger ones in the future.
What the Toffees need is a change at boardroom level, and they need it soon.
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