Bill Kenwright

[Dr Baxter]

I wish he had lost the battle for control with Gregg.
Hindsight ay ?

Nope. I wanted that at the time and most Evertonians I know did do, too. Some of use smelt a rat with Kenwright a long, long, long time ago.

 

[mahermi1]

Nope. I wanted that at the time and most Evertonians I know did do, too. Some of use smelt a rat with Kenwright a long, long, long time ago.

Correct and the kids he used to cover that up and got away with it, "a means to an end" lest we forget from the Everton CEO at the time I think. His name I can't recall.

 

[Dr Baxter]

There is that much the world needs to know about Bill Kenwright's time at Everton FC and how he kept himself in control whilst lining his pockets with the proceeds of selling his shares to Moshiri. I wonder if any decent journalist is working on a book? Something with a title such as "How to ruin a historic football institution in 25 years".

 

[mahermi1]

Correct and the kids he used to cover that up and got away with it, "a means to an end" lest we forget from the Everton CEO at the time I think. His name I can't recall.

* kids should have been lies, how the Hell lies got turned into kids by auto correct baffles me.

 

[Blue peter]

You probably don’t need to look any further than the approx £150m funding the club gets from R&M… a body BK has used previously to raise money for the club even, if it is at higher interest rates than high street banks.

If the current R&M facility was negotiated by Kenwright, it’s not entirely without question that were he to be forcibly removed by Moshiri that R&M might/could/would immediately demand full reimbursement… and that would give Moshiri something of a headache and possibly a personal cash flow problem.

From the very moment BM got planning permission, Moshiri has been seeking financing for it and has failed miserably, due in no small part to the pathetic state of the accounts year on year.

In a nutshell, the biggest funding the club has received outside of Moshiri continuing to pump in his own cash in exchange for shares etc, has come from R&M… and that’s where Kenwright gets his safety net from.

I understand you are only speculating but a funding facility is purely a business arrangement - why would they call it in just because the Chairman leaves? I‘d be staggered if it was that

 

[Ferguson1878]

I understand you are only speculating but a funding facility is purely a business arrangement - why would they call it in just because the Chairman leaves? I‘d be staggered if it was that

think it’s cos he’s ment to get such good terms with them and if he leaves they won’t be as good , i have read that somewhere before

 

[AndyC]

I understand you are only speculating but Ia funding facility is purely a business arrangement - why would they call it in just because the Chairman leaves? I‘d be staggered if it was that

A billionaire struggles to find external financing for BM…
Kenwright calls R&M and we get a credit facility of £150m at above high street bank interest rates.
Kenwright gets pushed, they would definitely call it in… Kenwright is the lynch pin.

 

[Blue peter]

think it’s cos he’s ment to get such good terms with them and if he leaves they won’t be as good , i have read that somewhere before

They can’t be great terms if they are at a high interest rate, but an agreement (agreed by whoever acts on behalf of both parties) stays an agreement - you can’t change the terms just because someone leaves unless it was a contractual stipulation in the agreement, which it won’t be. There will be clauses in the funding agreement which state if interest rates can change and when, early repayment fees and other clauses at which any funding becomes payable in full. It won’t be because the chairman is binned.

 

[AndyC]

They can’t be great terms if they are at a high interest rate, but an agreement (agreed by whoever acts on behalf of both parties) stays an agreement - you can’t change the terms just because someone leaves unless it was a contractual stipulation in the agreement, which it won’t be. There will be clauses in the funding agreement which state if interest rates can change and when, early repayment fees and other clauses at which any funding becomes payable in full. It won’t be because the chairman is binned.

R&M are not your run-of-the-mill money lender… they are ‘friends’ of, well you fill in the name eh

 

[Eggsyblueskin]

I understand you are only speculating but a funding facility is purely a business arrangement - why would they call it in just because the Chairman leaves? I‘d be staggered if it was that

Depends whose behind the organisation that is providing that facility?
One possible name springs to mind , one who has already provided loans for Kenwright to keep control of Everton.

 

[Blue peter]

Depends whose behind the organisation that is providing that facility?
One possible name springs to mind , one who has already provided loans for Kenwright to keep control of Everton.

Ah right ok…..

 

[ultra]

Depends whose behind the organisation that is providing that facility?
One possible name springs to mind , one who has already provided loans for Kenwright to keep control of Everton.

I can't imagine. Then again, I am a bit green about financial stuff

 

[RomanReigns]

does he think this will just blow over and he will be welcomed back to goodison with open arms in a matter of weeks / months

does this man lives in delusionalville?

 

[Taifi gorm]

does he think this will just blow over and he will be welcomed back to goodison with open arms in a matter of weeks / months

does this man lives in delusionalville?

Live! Lads the town planner.

 

[everton fan number one]

A billionaire struggles to find external financing for BM…
Kenwright calls R&M and we get a credit facility of £150m at above high street bank interest rates.
Kenwright gets pushed, they would definitely call it in… Kenwright is the lynch pin.

Is it not more usually when there’s a change of control of a company (meaning different majority shareholder) that a loan can be called in?