Farhad Moshiri

[Kev50]

That would be true if EFC were solvent - technically they aren't. This means that the 80 mil is bottom of the pile to be repaid along with other unsecured creditors so can't be repaid without the distinct possibilty of setting up a preference. The liquidators would seek to reverse any repayments.

If we got any insolvency practitioners on here please confirm/berate.

If we go bust, yes, which is highly unlikely. That 80m is not a gift, it's a loan, and a man of his net worth can get a loan for such amount at v low rates of interest.effectively his outlay is the interest payment on 80m, prob works out at less than a million a year, until of course he sells

 

[hibbo'sclass]

Didbt see your post at the time mate. Nothing in the papers as I recall. Of course the figures rumoured could be a bit out.

Me being me I put the caveats in!

Newspapers are (generally speaking) not arsed about the figures and underlying bits.

 

[hibbo'sclass]

If we go bust, yes, which is highly unlikely. That 80m is not a gift, it's a loan, and a man of his net worth can get a loan for such amount at v low rates of interest.effectively his outlay is the interest payment on 80m, prob works out at less than a million a year, until of course he sells

The point I was making is that as long as EFC is insolvent, it is almost inconceivable that it will be repaid.
I take the optimistic view that it is hopefully a precursor to an underwritten rights issue.
If you vault me, you'll find a post that says FM is still in positive cashflow from R&W/EFC share dealings including the loan.
If the reported 200m received from Usmanov is correct, then the initial purchase +options+rights issue (if no-one else took up their rights) cost about 320mil for an 87% stake in EFC. So about 120 mil from his R&W pre-sale position.

 

[chippy1722]

Kenwright's had over 20 years, we've pretty much been in debt for the whole time. He was never gonna be able to buy Kirkby, Kings Dock or Walton Hall Park so why should Moshiri be expected to just stump up the money himself. If Moshiri didn't appear I doubt we would be anywhere as close as we are to Bramley Moore, we certainly wouldn't have half a chance of keeping Lukaku. I am just happy that the club is on the up and enjoy it, and if goes pear shaped then we will deal with it then.

 

[Kev50]

Kenwright's had over 20 years, we've pretty much been in debt for the whole time. He was never gonna be able to buy Kirkby, Kings Dock or Walton Hall Park so why should Moshiri be expected to just stump up the money himself. If Moshiri didn't appear I doubt we would be anywhere as close as we are to Bramley Moore, we certainly wouldn't have half a chance of keeping Lukaku. I am just happy that the club is on the up and enjoy it, and if goes pear shaped then we will deal with it then.

I agree we are in a better place. I think though a lot of people got carried away last year when the Esk was talking about a return to the Mersey billionaires and such like, an Abramovic this guy ain't

 

[jinkyali]

It is worth reflecting as Davek is, that fifteen months into his stewardship our leader has produced a reasonable and exciting plan for Everton, involving the construction of a stadium with little left from half a billion in change, where the current and projected level of his investment will stand at zero pounds zero pence.

If it was as simplistic as that why could Kenwright not have done this ?

 

[Kev50]

If it was as simplistic as that why could Kenwright not have done this ?

That is a good question. I'm sure there is a part of Bill that is kicking himself just a bit. But he just doesn't have the know how

 

[jinkyali]

That is a good question. I'm sure there is a part of Bill that is kicking himself just a bit. But he just doesn't have the know how

Exactly. Moshiri brings so much more to the table than simply money.

 

[roydo]

If it was as simplistic as that why could Kenwright not have done this ?

Couldnt clean the balance sheet up like Mosh has for one.

 

[Saint Domingo]

I agree we are in a better place. I think though a lot of people got carried away last year when the Esk was talking about a return to the Mersey billionaires and such like, an Abramovic this guy ain't

FFP means he can't be an Abramovic yet. We need to raise revenue which can only be done through stadium revenues, commercial revenues and player trading. He can't just inject 100s of millions in even if he wanted to. In a year he's wiped the debt, spent a lot on changing the managerial team, spruced up Goodison, has made great progress on the stadium, and has lined up far better sponsor deals. Ok we've not lined up that marquee player yet but dropping 30 mill on a player like Bolasie shows that Moshiri is not too bothered about resale value. Honestly in my eyes it's a 9/10 for him so far.

 

[Kev50]

FFP means he can't be an Abramovic yet. We need to raise revenue which can only be done through stadium revenues, commercial revenues and player trading. He can't just inject 100s of millions in even if he wanted to. In a year he's wiped the debt, spent a lot on changing the managerial team, spruced up Goodison, has made great progress on the stadium, and has lined up far better sponsor deals. Ok we've not lined up that marquee player yet but dropping 30 mill on a player like Bolasie shows that Moshiri is not too bothered about resale value. Honestly in my eyes it's a 9/10 for him so far.

I hope you're right, time will tell. What does make me uneasy is the figure they've put in for the new stadium. If he was Mr Moneybags, there's no way we'd be talking about a £300m 50,000 seater stadium. He'd need to double that to get to the stadium we all thought we were getting.

 

[ham2]

** Reality check**
The options and attendant charges are still live at 21 March according to the companies registry at gov.im

We don't know the triggering clauses, or when the expiration date is - could be years off.

The documents were delivered by an escrow agent. Inference is, the money is there.

The options cannot take BHHL to 75%.

The 49.9% holding was probably to circumvent a change in ownership which would have had ramifications re the Pru. Fact that the charge wasn't satisfied until early Oct may well mean that 6 months notice was required to avoid penalties.

Like Fordstam loan to Chelsea, the 80mil loan cannot stay on the BS forever (PL rules I believe) the most likely outcome being a share issue.

The loan could not reasonably be expected to be paid out before other liabilities if the future of the business looked in doubt. This would set up a preferential treatment scenario.

If you want to know anything more about any of the above, vault me.

I agree







Ain't got a scoobby what it means but yeah I agree

 

[Tramps_mate]

I thought he sold his shares in Arsenal to Usmanov. From what I recall at the time there was no suggestion that the value of those shares was over valued at all. So if somebody buy's something off you, the money is then yours. Right?

The arsenal shares were over priced if you check. 30% or so i think.

 

[davek]

Dave, the points you make here are well constructed, well written, coherent and without personal insult.

I and I suspect most others have no argument with debate made in the above manner whatsoever and indeed, when a different opinion or alternative viewpoint is expressed so eloquently, I applaud it.

By all means you are entitled to have doubts or concerns as you perceive things, for me personally that's fine. But please try and refrain from undermining your position and belittling your argument with cheap insults.

Enjoy the sunshine

Which insults have I hurled at Moshiri exactly? I've questioned his billionaire 'taking us to the next level' status, yes. I cant say I remember anything outside of that.

Funny though that Kenwright took a lot of stick off most of us but that was ok apparently - no censure then. I tell you what though, if Kenwright had trundled forward with a plan that gave effective control over our finances to a city council and hedge funds for a couple of generations, as this one does, the screams would have been merciless.

For me, this feller is getting way too much of an easy ride at Everton. Closer scrutiny of all he does is the only healthy way forward, imo. That doesn't mean opposition, btw. Just a continual critique and to question all he does and look for the benefits to EFC as opposed to him.

At the end of the day these people are nothing. They come and they go. Same with Moores. The trick is to hold their feet to the fire. The Kopites for all their sins do that very well and so too have Evertonians in the past as per Johnson's time here. If we dont mark every move they make we just lay ourselves open to be another one of those victim clubs that can get swindled and face extinction. They're fans get no sympathy from me if they were mugs enough to fall for the 'knight in shining armour'.

 

[AndyC]

Which insults have I hurled at Moshiri exactly? I've questioned his billionaire 'taking us to the next level' status, yes. I cant say I remember anything outside of that.

Dave, you referred to him as a 'no mark' - is that not some kind of insult?

You seem intent on looking at everything from as negative a standpoint as possible and that is your prerogative but, to insult the man is unnecessary.

You are correct in that previous derogatory remarks towards other board members haven't been jumped upon, that may change.
Criticism of an entity e.g. The Board will likely be permitted, however personal insults and abuse towards named individuals has been discussed in Mod Central Office and such posts might become liable to scrutiny/moderation.