Farhad Moshiri

[Dymak]

There is no get out clause , and I refer you to my point that nobody buys half a company just to maintain the status quo - something I have written about at length if you look at the various front page articles published on this site.

He's only willing to buy the club in the event that a series of Unknown conditions are met, it sounds like a get out clause to me.

 

[Goat]

How would acquiring a few shares in order to gain control of the club be considered overpayment? We were told that the reason he didn't purchase 50% was because it would oblige us to pay the debt off. Well the debt has been paid off now, just after the first tranche of the TV money came our way as it happens, so what's the problem? Why does he have to wait to see if he needs his get out clause before buying EFC?

You said he should make somebody an offer they cant refuse, which is overpaying.

Im curious, I missed the start, what benefit would him owning 100% give the club?

 

[The Esk]

How would acquiring a few shares in order to gain control of the club be considered overpayment? We were told that the reason he didn't purchase 50% was because it would oblige us to pay the debt off. Well the debt has been paid off now, just after the first tranche of the TV money came our way as it happens, so what's the problem? Why does he have to wait to see if he needs his get out clause before buying EFC?

Because there is almost certainly a shareholder agreement in place whilst the options are not exercised but still valid, stopping him from doing that. The remaining larger shareholders will have sought protection whilst the options agreements are not exercised. I have stood on both sides in other transactions and seen this time and time again.

 

[Bungle]

How would acquiring a few shares in order to gain control of the club be considered overpayment? We were told that the reason he didn't purchase 50% was because it would oblige us to pay the debt off. Well the debt has been paid off now, just after the first tranche of the TV money came our way as it happens, so what's the problem? Why does he have to wait to see if he needs his get out clause before buying EFC?

All getting a bit confusing this isn't it, seems a bit shady to me.

 

[onlyme]

He's only willing to buy the club in the event that a series of Unknown conditions are met, it sounds like a get out clause to me.

And he would be stuck with 49% of a sinking ship. Not a great get out clause is it ?

 

[Goat]

All getting a bit confusing this isn't it, seems a bit shady to me.

Hi mate, whos the fella in your ava?

 

[Bungle]

Hi mate, whos the fella in your ava?

DJ Vibes, but I like to pretend it's @Dymak and mock his hair.

 

[Dymak]

You said he should make somebody an offer they cant refuse, which is overpaying.

Im curious, I missed the start, what benefit would him owning 100% give the club?

Well Esk is saying that all offers from Moshiri have been turned down by the minority shareholders on the account that their shares will be worth much more in the future, so I'm not sure it would be overpaying, and it would be peanuts when you acknowledge that it would give you control of Everton FC.

Having an outright owner has both positive and negatives. I'm just highlighting my concerns regarding his reluctance to purchase the club when he easily has the means to do so. We are told that the reason he didn't take a controlling stake was to avoid paying debt, and then we go and pay the debt off anyway. We are now being told that him purchasing the club is dependent on a series of unknown conditions being met. I can't say I can remember any other club having a takeover structured this way, and for me it is certainly worthy of discussion, and possibly worthy of concern.

 

[Goat]

DJ Vibes, but I like to pretend it's @Dymak and mock his hair.

20 years ago, they called it Kenwright, now we call it Moshiri techno.

 

[Bungle]

20 years ago, they called it Kenwright, now we call it Moshiri techno.

Gonna have to change it back, I can feel the anger and resentment building up inside me, my understanding for football finance also seems to have hit an all time low since the change.

 

[Bullet]

He's only willing to buy the club in the event that a series of Unknown conditions are met, it sounds like a get out clause to me.

Others on here will know more about share acquisition than me but my basic understanding is that there's a put and call option agreement in place which means Mosh has the right, but not the obligation, to purchase the remaining 25% presumably when certain criterion are met.
BK & Co also have the right to force him to buy those shares in the same circumstances. There would be no option in place whereby he could force a sell back of his 49.9% so if he wants out in future he'll have to find a third party buyer.

 

[Goat]

Well Esk is saying that all offers from Moshiri have been turned down by the minority shareholders on the account that their shares will be worth much more in the future, so I'm not sure it would be overpaying, and it would be peanuts when you acknowledge that it would give you control of Everton FC.

Having an outright owner has both positive and negatives. I'm just highlighting my concerns regarding his reluctance to purchase the club when he easily has the means to do so. We are told that the reason he didn't take a controlling stake was to avoid paying debt, and then we go and pay the debt off anyway. We are now being told that him purchasing the club is dependent on a series of unknown conditions being met. I can't say I can remember any other club having a takeover structured this way, and for me it is certainly worthy of discussion, and possibly worthy of concern.

Its all just guesswork, maybe the conditions for the transfer of shares hasnt happened? Maybe it was time vaulted, Maybe it was dependent on how many tickets for Bills shows he bought, we simply do not know, but it doesnt seem to be slowing him down, hes paid off the debts and looking into the stadium issue.

I know we want it all and we want it now, but the whole process is gonna take time.

 

[The Esk]

Well Esk is saying that all offers from Moshiri have been turned down by the minority shareholders on the account that their shares will be worth much more in the future

I am not saying that. I am saying no shares are currently for sale, and that Moshiri does not require the purchase of shares from smaller shareholders given the existence of the options agreement which he must assume the conditions will be met for him to exercise.

 

[Dymak]

Because there is almost certainly a shareholder agreement in place whilst the options are not exercised but still valid, stopping him from doing that. The remaining larger shareholders will have sought protection whilst the options agreements are not exercised. I have stood on both sides in other transactions and seen this time and time again.

I'm sorry, but a few minutes ago the reason why he hadn't bought the club was because minority shareholders were demanding too much for their shares, and now it's because the secret agreement prohibits him from doing so.

There shouldn't be a secret agreement. How many other clubs are taken over dependent on the contents of a secret agreement?

 

[Bungle]