Farhad Moshiri

[kithnou]

Thanks - just had a very quick look. See the loan isn't from BHHL, but Bluesky Capital Ltd. IoM company owned by FM with same registered agent/office as BHHL. No point in looking any further as only public docs are cert of incorporation, mem and arts and a couple of annual returns.
Thing is, if you vault me, you should find a post relating to FM selling his share of Red and White Holdings to Usmanov, which if as reported was 200mil, was at a substantial premium given the listed price for Arsenal shares at that time.
Bit weird as Usmanov was getting a "dead" holding.
I really should get a hobby.

In plain English. Good thing or bad mate?

 

[RomanReigns]

was it a gift though mr moshiri?

 

[Blake]

As this is obviously not in the accounts, where has this figure been published?

It is in the accounts. Section 21 'Post Balance Sheet Accounts'

Since 31 May 2017, the Club’s major
shareholder has provided further
interest free loans of £45,000,000
with no agreed repayment date,
which were treated as equity.

 

[davek]

Bless you Dave, by March/April work will have started on the stadium and we will have spent in excess of 300m on players.

But lets strip away the BS shall we.

March/April eh? Oh aye, right you are then.

£300M spending? So that'll be the result of selling the three players he vowed to keep when he came through the door plus a load of others.

It's like having Mansour as Everton's owner, it really is.

 

[Market trader]

I am not an accountant but if Moshiri has given up his right to demand repayment within a year or longer, I think a loan can be classed as equity. If so, it's not a gift.

 

[Toffeelover]

It only takes a handful of reasonable results to sway people's perceptions of Moshiri.

There's only two ways for us we can judge him: progress on the stadium; net spend on the squad. The rest is just nonsense. Whatever he's put into the club is a personal investment he'll get back in spades.

I still dont see a game changer here. Glacial progress on the stadium and low net spending. He'll have been here two years in March/April and we'll effectively be no further forward. We've gone down in the pecking order of the PL in terms of status, the squad is worse, and we have a firefighter as a manager.

They're the scores on the doors when you strip away all the BS.

Dave Wonder what you would describe as progress? will this do? (lifted off Toffeeweb)


Geotechnical work starting at Bramley-Moore Dock?
Michael Kenrick | Friday, 22 December 2017

39 Comments [Jump to last]

This photograph of portacabins from the geotechnical company Structural Soils was taken by photographer Dave Wood at Bramley-Moore Dock earlier this week
Signs of preparatory investigation work beginning at Bramley-Moore Dock were spotted this week.

The first stage in any new development project involves site investigation of subsurface conditions, and this photograph of portakabins at Bramley-Moore Dock is a strong indication of tangible progress getting under way at the site.

Structural Soils Ltd is a UK geotechnical and geoenvironmental site investigation company established in 1964. The company undertakes contracts nationally and internationally through its offices in Bristol, Castleford, Glasgow and Hemel Hempstead.

The site investigation process involves drilling exploration boreholes and excavating trial pits to allow visual description and sampling of the subsurface soils. Samples are tested in a laboratory to determine soil strength and compressibility, and look for signs of any contamination present that may need to be cleaned-up. The exploration boreholes may be completed as monitoring wells to provide information on groundwater levels and possible contaminants.

The explorations are an essential first step that feeds the future structural design of the planned new stadium at Bramley-Moore Dock and associated site development. It follows as a logic 'next step' after the club exchanged land-lease contracts with Peel Holdings last month to secure a 200-year lease on the site.

 

[catcherintherye]

The money Moshiri has put in is very welcome, and I suspect indicative of a wider consortium of involvement. I also think, strategically and will know where to place the value to maximise Everton's opportunities longer term. For example, 50 million on players would be useful, but 50 million on turning around the balance sheets may then allow Everton to secure 400 million for a stadium at an interest rate that is 10 million pounds a year cheaper, and thus pays for itself.

It is difficult (for me anyway) to see where 150 million has gone. Yes there have been some signings offset by in part by players leaving the club, and though the wage bill has increased it has not been dramatically so. Either the deals we have done are far worse than i widely reported, or reasonable portions of the investment are going into strengthening the club as a whole and the stadium process. This would be no bad thing, I'd certainly like to see the club buying more land in and around the stadium and feel it would be a prudent investment.

He has to get the boardroom and on field stuff sorted though. The remnants of the old board will always mean money will not be utilised as efficiently as it could be. Likewise Steve Walsh must really be on last chance saloon and needs to start delivering more consistently in his post.

 

[Neiler]

Don't forget he sold his Arsenal shares to Usmanov prior to his Everton involvement. Was it for around 200m? Still up.

A gift though? lol

The way i see it. You have two long time business associates. They both hold shares in Arsenal which they see Sky rocket. They say to themselves this PL investment is a gravy train. So they say themselves well what if we increase our exposure as a pair. If one of us can hold all our shares in Arsenal and the other can buy into another PL club and increase that investment we double our money. It makes perfect sense to have your existing shareholding in Arsenal and buying into being exposed to another PL club, rather then the two just sharing a shareholding in Arsenal.

This is why i think its an consortium approach, a lot of evidence points to it, investment to reported personal wealth, USM sponsorship, the trajectory of gaining and moving on the Arsenal shareholding, the panorama coincidences. I dont think it will be ever proven definitively, but that is my belief.

 

[hibbo'sclass]

In plain English. Good thing or bad mate?

Loan source - boring
Premium paid for useless minority shares - weird.
Think that covers it.

 

[Goat]

March/April eh? Oh aye, right you are then.

£300M spending? So that'll be the result of selling the three players he vowed to keep when he came through the door plus a load of others.

It's like having Mansour as Everton's owner, it really is.

4th highest spenders in the whole world in the last 18months, but Dave, 56 from wigan says hes doesnt own a country so hes a fraud.

 

[Woolly Blue]

I am not an accountant but if Moshiri has given up his right to demand repayment within a year or longer, I think a loan can be classed as equity. If so, it's not a gift.

Yea, I think that's broadly accurate.

4th highest spenders in the whole world in the last 18months, but Dave, 56 from wigan says hes doesnt own a country so hes a fraud.

Dave's a Wool ?
I've suddenly grown a little fonder of him, and 56 is a fine, fine age to be.

 

[Neiler]

Incidentally many of my fears on Moshiri/consortium have been eased with the set of accounts.

When you look at historically what the millstone around our necks have been and what have been eased:

The debt, for just under 20 years we have been holding a significant amount of long term debt that just remained on the balance sheet, but it had the bloodsucking effect of drawing key finance out of the club yer after year and created a prison that stopped on so many occasions making a real play for the CL spots.

The new ground, i have been at pains over the years to outline how critical this was to Evertons future, it is why i supported DK. It is also why the club has languished since before DK and after. Another prison to progress when key rivals commercial revenue, sponsorship form grounds has sky rocketed taking them to a different level that we cant compete at. Simply put a new stadium is the only game in town. Look at it in the context of our rivals: Utd, Spurs, Chelsea, Arsenal, Liverpool have all focused or are focusing on the grounds to be a platform to compete for the next 100 years. For us to maintain our historical position and stay ahead of the likes of mid table teams then a stadium is vital for our future, place in the game and copperfastens us as a huge club for the next 100 years. I cant underline how important is to the club now and for generation of Everton fans in the future.

The one critique i have, is in the present, there has been some really poor decision making at board level that really needs sorting. The mess we were in five weeks ago is down to poor decision making at board level, Lukaku, recruitment, value of investments etc. The sooner we have a clear line of authority at board level or Moshiri/consortium increases his share holding the better.

But the accounts are very encouraging in terms of intent and baseline number in year 1. The foundation has been set now to grow the buisness into the long term, if things on the pitch arent great i am ecstatic about the fundamentals of the pitch being nothing short of spectacular - it is the life blood we have craved for almost 30 years. A 30 million profit in year 1, we were carrying just over that in debt for almost 25 years. Its outstanding. While the foundations to grow the club have been set. Everton are a completely different club now.

 

[hibbo'sclass]

Yea, I think that's broadly accurate.



Dave's a Wool ?
I've suddenly grown a little fonder of him, and 56 is a fine, fine age to be.

56 is too old to live.

The loan is the most junior of the unsecured creditors in a winding up, ie the last to get paid out, so is classed as equity. If there were any form of security, it would not be equity imho.

 

[davek]

Dave Wonder what you would describe as progress? will this do?

.....I'll let you answer that question mate.

 

[davek]

4th highest spenders in the whole world in the last 18months, but Dave, 56 from wigan says hes doesnt own a country so hes a fraud.

Eh?