Farhad Moshiri

[Mrk]

It's staggering to think that in 2016 when this clown invested we had a decent squad on paper (shame about the manager), a reasonably healthy balance sheet and the perfect platform to invest strategically to progress as a club.

Look at us now. Riddled with debt, huge cash flow issues, a truly terrible squad, very dodgy ownership, a living relic as a chairman, a temporary board, huge divisions in our fan base, a stadium that without a capital investment will never be finished, oh, and we're about to face our third relegation battle in 3 years.

 

[Goat]

It's staggering to think that in 2016 when this clown invested we had a decent squad on paper (shame about the manager), a reasonably healthy balance sheet and the perfect platform to invest strategically to progress as a club.

Look at us now. Riddled with debt, huge cash flow issues, a truly terrible squad, very dodgy ownership, a living relic as a chairman, a temporary board, huge divisions in our fan base, a stadium that without a capital investment will never be finished, oh, and we're about to face our third relegation battle in 3 years.

The definition of a worst case scenario.

 

[Rich1878]

It's staggering to think that in 2016 when this clown invested we had a decent squad on paper (shame about the manager), a reasonably healthy balance sheet and the perfect platform to invest strategically to progress as a club.

Look at us now. Riddled with debt, huge cash flow issues, a truly terrible squad, very dodgy ownership, a living relic as a chairman, a temporary board, huge divisions in our fan base, a stadium that without a capital investment will never be finished, oh, and we're about to face our third relegation battle in 3 years.

Very sobering

 

[BNJ1878]

JPMorgan asked the current owner to put up more cash as a condition to the sale to MSP. The current owner refuses to invest anything more into the Club. Current owner asked for further investment from MSP to make player purchases during the last two weeks of the transfer window and that request was denied. The amount requested was 30 Million.

Good to see you back here. Couple of things:

1) has the first tranche of money (the stadium loan) been transfered? Are they still raising R2 because it's obvious as it stands Moshiri can't raise anything himself.

2) is the equity definitely off the table? Based on Moshiris cash position surely there comes a point when he's has to offer more control for the money.

 

[Goat]

Good to see you back here. Couple of things:

1) has the first tranche of money (the stadium loan) been transfered? Are they still raising R2 because it's obvious as it stands Moshiri can't raise anything himself.

2) is the equity definitely off the table? Based on Moshiris cash position surely there comes a point when he's has to offer more control for the money.

2) Did he not try that with the MSP deal? I know he wasnt given them control as such, but he was certainly giving up a portion?

 

[BNJ1878]

2) Did he not try that with the MSP deal? I know he wasnt given them control as such, but he was certainly giving up a portion?

Yes. But it was widely believed to be for about 25%.

The blokes pretty desperate and a proportionally higher equity for MSP might be appealing to them. (And those who have invested into the Everton fund at MSP)

 

[EFC_FRANCIS]

Yes. But it was widely believed to be for about 25%.

The blokes pretty desperate and a proportionally higher equity for MSP might be appealing to them. (And those who have invested into the Everton fund at MSP)

It wasn't Moshiri or MSP who had a problem with 25% though. It was Rights and Media holding saying it was undervaluing everton ( lol ) and to dilute 25% MSP needed to A. Front up more cash or B. Pay them out in full to the sum of 200 millions

 

[EFC_FRANCIS]

We’re finished.

Sounds exactly like what my mates been saying for months. He can't figure out how Everton are valued at anything more than £0 much less £600 million accounting wise

 

[ForeverBlue92]

We’re finished.

Sooner Uncle Uz is allowed back on the scene the better.

These kin Tories are strangling us.

 

[BNJ1878]

It wasn't Moshiri or MSP who had a problem with 25% though. It was Rights and Media holding saying it was undervaluing everton ( lol ) and to dilute 25% MSP needed to A. Front up more cash or B. Pay them out in full to the sum of 200 millions

Yes, I get that it wasn't Moshiri himself that blocked it.

They're comes a point though where it might be tempting for Moshiri to give up control altogether to MSP and they themselves pay off R&M.

@BeardedScotsman said they have around 100 people in the Everton fund, pretty sure they can raise much more if needed (and they thought it was worthwhile.)

 

[Neiler]

It wasn't Moshiri or MSP who had a problem with 25% though. It was Rights and Media holding saying it was undervaluing everton ( lol ) and to dilute 25% MSP needed to A. Front up more cash or B. Pay them out in full to the sum of 200 millions

I think this was initially the analysis mate. But some are reporting now - that MSP wanted £30 mill to sanction the deal or de-risk their security. So the deal was 130 mill for 25%, 100 mill for the stadium and 30 mill for cashflow - with their security rights and media wouldn't sanction the deal unless the £30 mill was paid to them instead of the club for cashflow. Moshiri said no to this and thus the MSP equity deal. MSP and Moshiri then agreed the straight up loan of the 100 mill only for the ground.

 

[EFC_FRANCIS]

Yes, I get that it wasn't Moshiri himself that blocked it.

They're comes a point though where it might be tempting for Moshiri to give up control altogether to MSP and they themselves pay off R&M.

@BeardedScotsman said they have around 100 people in the Everton fund, pretty sure they can raise much more if needed (and they thought it was worthwhile.)

I just can't for the life of me see why Moshiri would want to give it up at this point or why MSP would want to take it on. The last I heard was MSP providing a loan for the stadium at about a 12% rate. Tasty for them and much more lucrative than taking on ownership of a business that 100m in the red every year and showing no sign of improving

 

[Ferguson1878]

It's staggering to think that in 2016 when this clown invested we had a decent squad on paper (shame about the manager), a reasonably healthy balance sheet and the perfect platform to invest strategically to progress as a club.

Look at us now. Riddled with debt, huge cash flow issues, a truly terrible squad, very dodgy ownership, a living relic as a chairman, a temporary board, huge divisions in our fan base, a stadium that without a capital investment will never be finished, oh, and we're about to face our third relegation battle in 3 years.

i’d say off the field we were in a mess too to be honest

 

[GoldenToffee]

Unlucky that we got caught in the Ukraine situation.

Interesting that football attracts such shady characters - assume it is due to some loose regulation around operations.

I think we're the one team in world football that got most bummed by the war in Ukraine, Ukrainian clubs aside of course.

A lot of people might say Chelsea, but they came out of it smelling of roses and going on a £1b pounds shopping spree immediately after a pretty rapid takeover.

Everton that.

 

[The binman chronicles]

We’re finished.

On the flip side of that we may be able to sell to someone who has the means and access to refinance the short term debt to a longer term kind of variant.