Wyness calls the incredible £450 million boost for Everton “good news.”
Former Everton CEO Keith Wyness has suggested that the club stands to save a substantial £450 million on their new state-of-the-art stadium.
Speaking on Football Insider’s Inside Track podcast, the 66-year-old, who served as
CEO at Goodison Park from 2004 to 2009 and now advises elite clubs through
his football consultancy, emphasized the significance of this saving for Everton’s future.
The new stadium, boasting a capacity of 52,888 seats and an estimated cost of around
£750 million, is projected to be completed by late 2024, with Everton set to move in for the 2025-26 season.
Wyness, speaking exclusively to Football Insider, expressed confidence in the stadium’s potential to significantly boost the club’s revenue, estimating an increase of £50-£60 million per season.
Wyness highlighted the £450 million saving as a major positive for Everton, particularly amidst financial uncertainties surrounding the club.
Everton currently faces challenges, including charges of breaching the Premier League’s Profitability and Sustainability Rules and a points deduction for their initial breach.
However, Wyness emphasized that the fixed-price contracts in place for stadium construction ensure a reasonable cost compared to current market rates.
He explained, “To look at a project like this today, you’re looking at an outlay of £1.2 billion.
As I understand it, it’s going to cost under £800 million and probably closer to £750 million.
Already there is an asset with greater value.
That is one big positive. If we were stuck at Goodison Park with the debts we have, then it would be a completely different picture.”
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