His current deal, which expires at the end of the season, had contained a club option to extend on the same terms for a further year.
The funding replaces borrowing that supported the construction of the new 52,888-capacity venue, which is set to open early next season.
Everton have agreed a long-term financing deal for their new stadium on Liverpool's waterfront, securing a long-term funding deal to refinance the borrowing already in place on the venue.
Wayne Rooney has had his say on Everton's new stadium. The former forward, who had two spells with the Blues, has been given an all-access tour of the new facility at Bramley-Moore dock.
Goodison Park is reportedly under consideration as a potential new home stadium for Everton Women.
Everton receive huge financial boost over new stadium - The 52,888-seater stadium at Bramley-Moore Dock cost £800m to build but new owners The Friedkin Group have arranged a refinancing deal
Royle says that he still really doesn’t understand why he was sacked by Everton, claiming that it was a very strange situation. The former Everton boss spoke about his departure from Goodison Park. The gaffer says that he still doesn’t understand why he was sacked, and that the pressure he was under seemed to come from out of the blue.
Wolves are the only side that sit between Everton and the relegation zone, though David Moyes' men do have a 15-point buffer on 18th-place Ipswich Town
Everton can finally celebrate that they have new owners after this protracted affair reached a conclusion when the club announced on 19 December that it had been purchased by Roundhouse Capital Holdings,
The Friedkin Group have secured a major financial agreement for the club ahead of Everton's move to Bramley-Moore Dock.
Everton have secured a new financing package for the club's landmark stadium. The Blues have arranged a long-term, £350m funding deal that restructures the existing lending on the waterfront venue.
Everton have agreed a long-term financing deal for the Premier League club's new stadium on Liverpool's waterfront, securing a long-term, 350 million pounds ($450.49 million) funding deal to refinance the borrowing already in place on the venue.