£30 million was all they needed
https://www.independent.co.uk/sport/football/premier-league/spiralling-costs-may-lead-everton-to-pull-out-of-stadium-move-128370.htmlEverton's proposed move to a new multi-million stadium at Liverpool's King's Dock is on the verge of collapse as the club's board contemplate reallocating the funds to their manager David Moyes's high-flying team instead.
The club have carried out a feasibility study into the move and will make a decision shortly about whether to proceed, but they are now likely to pull the plug.
The sheer cost of the move is worrying the club's owner, Bill Kenwright, and his allies, and any available finance may now be diverted to Moyes. Everton must find £30m in three weeks to have a 50 per cent stake in the new development, which will take around £160m to build even if it is given council agreement in the first place. To find the money would mean a long-term mortgage at potentially crippling lending rates and that would jeopardise Moyes's rebuilding. That bill could run to almost £60m in repayments.
As Everton need money to sign Joseph Yobo from Marseilles on a permanent basis and
also give Wayne Rooney a contract to stay rather than cash in on him, they have to channel funds towards the players rather than a ground. Kenwright is also concerned that putting restrictions on Moyes could result in his departure.
The former Everton striker Gary Lineker hopes to make a bid to rescue his first club, financially troubled Leicester City, by the end of this week. The former England forward is part of a consortium set up to try and save his old club, and with his associates Greg Clarke and Jon Holmes believes he has attracted enough capital to help put the First Division side back on an even keel.The bolded bits had me in stitches