Everton FC held an eventful Annual General Meeting on Thursday, in which various news emerged about the club's upcoming plans, including several updates on their proposed stadium at Bramley-Moore Dock.
The club, which recently hired Carlo Ancelotti as manager, has revealed over the last 24 hours eye-catching financial figures and news that a deal has been struck over naming rights for the new stadium, as well as giving their firmest indication yet over whether Liverpool City Council will be contributing to building it.
Here are six things we learnt from the meeting, with help from the Everton FC team:
1. Record losses - but second highest revenues in history
Everton have announced record losses in their latest club accounts.
, after tax, made a loss of £111.8m across a 13 month period between the end of May 2018 and the end of June the following year, which represents a £98.8m increase from the previous year.
Despite the announcement of the second-highest revenues in the club's history, and a significant growth in sponsorship, advertising and merchandising revenue - undoubtedly eyebrows will be raised at the sheer amount of money the club have lost.
A number of factors have been behind the release of these figures and to put the accounts into context, which can be seen .
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2. Club strikes naming rights deal
The club has over naming rights on the club's proposed new stadium at Bramley-Moore Dock.
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The Blues on Tuesday announced the agreement which sees the holding company, founded by Alisher Usmanov, pay the club £30m this year for the option of becoming the new ground's main sponsor.
A heads of terms agreement has been reached on a multi-year deal with USM, should they decide to trigger the options and become the naming rights partner for Everton's new home on the waterfront.
The Blues will still be paid the money even if USM opt not to exercise their option in the future.
3. Moshiri investment now £350m
Farhad Moshiri's investment in Everton as the club accounts reveal his latest injection of cash.
The majority shareholder had already pumped in £250m in the form of loans, which are treated as equity, to help fund transfers, new stadium plans and to tackle debt, for example.
But it has emerged that Moshiri injected an additional £50m during the last financial year, which covered a 13 month period from the end of May 2018 to the end of June 2019.
The billionaire has since topped that up by an extra £50m to bring his personal commitment to the club to eye-watering levels.
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4. International banks sought to fund Bramley-Moore Dock
Everton have to secure the majority of funding required to build a .
on Tuesday confirmed they have been working with JP Morgan and MUFG (Mitsubishi UFJ Financial Group) over the past 12 months to assist in finding the private institutions that could lend the club the bulk of the expected £500m construction costs.
In a speech at the AGM by board member Sasha Ryazantsev, it was reiterated that there would be an equity investment – likely from Farhad Moshiri – but “senior debt” would cover between 60-70% of the bill.
JP Morgan, the New York-based investment banking company, and MUFG, one of Japan's largest banking institutions, have opened up the market to Everton in the search for investment.
They are working with Everton to find, structure and then raise the money the club needs to build their new home.
5. The end of speculation over council involvement?
The above news means it looks as though Everton by Liverpool City Council.
It was stressed again at the AGM that funding opportunities from the council remain on the table - but this was the clearest indication yet that the Blues will look to the private sector for the cash they need.
There is a chance the local authority could form part of the overall financing of the Bramley-Moore Dock financing - the Blues are aware that such a move could still assist the struggling council - but the idea of the city council providing over half of the money for the new stadium appears to have now been put to bed.
6. Stadium planning application update
When asked at the AGM whether the application "might be called in" by the government, stadium development director Colin Chong said it will be on the council's planning portal in the next couple of weeks.
He added: "[The] work carried out to date tried to anticipate all the legal and technical questions by [the council] and other statutory stakeholders. We think we’ve got all the answers but there is always a danger something comes out of the woodwork."