Farhad Moshiri

[ijjysmith]

The apathetic always a nudge.

I'm sure a few mre months won't hurt.

 

[D410]

I'm sure a few mre months won't hurt.

That,s what the last fella said but here we are so no thanks.

 

[ijjysmith]

That,s what the last fella said but here we are so no thanks.

OK keep on whinging. It makes the world of difference to what actually happens.

 

[hibbo'sclass]

Why has he listed his shares under the name blue heaven holdings and not his own name?

I'd imagine for tax purposes.

If you take the view as I do that he is Monagasque for tax purposes, then the use of an IoM company makes sense as much on a succession and funding level as tax to be honest.
Can't be arsed checking, but pretty certain the company will be a 2005(?) company, which are more conducive to asset holding structures.
His holding in Panmure's is already held by an IoM structure by the way.
Would do a company search, but think it would be a waste of time as nominee directors/shareholders will probably be in place.
Here endeth my contribution.

 

[sharkey1001]

You can also set up the pitch the size and condition it is at Goodison, plus you don't have to pay someone to use the facility because you own it.

Everton Aren't we? We down own anything!

 

[sharkey1001]

But he still is CEO isn't he?

Moved to the Board to let the day-to-day management come under the control of a new CEO - yet to be appointed.
Couldn't find the link, but I am sure this is what was announced? The same time he brought those other guys in??

 

[Deleted member 24970]

Whats the latest on lord farquad moshiri ?

 

[Blue Truth]

Moved to the Board to let the day-to-day management come under the control of a new CEO - yet to be appointed.
Couldn't find the link, but I am sure this is what was announced? The same time he brought those other guys in??

On the board yeah but still CEO

 

[sharkey1001]

I am positive I read that his board appointment was a precursor to appointing a new CEO? Maybe I just dreamt it? Hope not.

People always blamed Kenwright for our commercial failings, but I guarantee he takes little or nothing to do with sponsorships, kit suppliers, property/asset sales (Everton Place, Kitbag, Finch Farm) and all the other horrendous decisions made by our senior management headed most recently by that clown Elstone.

 

[davek]

If you take the view as I do that he is Monagasque for tax purposes, then the use of an IoM company makes sense as much on a succession and funding level as tax to be honest.
Can't be arsed checking, but pretty certain the company will be a 2005(?) company, which are more conducive to asset holding structures.
His holding in Panmure's is already held by an IoM structure by the way.
Would do a company search, but think it would be a waste of time as nominee directors/shareholders will probably be in place.
Here endeth my contribution.

Should we be worried about downside to him using this vehicle? Downside for the club, that is.

 

[toffee66]

Should we be worried about downside to him using this vehicle? Downside for the club, that is.

Not really. It s all about his personal tax and risk management strategy. Very few high wealth ndividuals hold shareholdings in their own name. Sadly offshore corporates are de rigeur tax minimisation vehicles. They also limit the holder's liability in the common scenario, like here, where they invest and influence strategy but do not involve themselves in day-to-day management decisions.

 

[davek]

Not really. It s all about his personal tax and risk management strategy. Very few high wealth ndividuals hold shareholdings in their own name. Sadly offshore corporates are de rigeur tax minimisation vehicles. They also limit the holder's liability in the common scenario, like here, where they invest and influence strategy but do not involve themselves in day-to-day management decisions.

Not something that could be used at a future point (when we're successful) to pay dividends and take money out of the club?

 

[bizzaro]

Why has he listed his shares under the name blue heaven holdings and not his own name?

There's a difference in legal personality:

when we talk about him as a British or other national citizen - he through being born living and dying has legal personality. Just like you or me.

When he puts assets under the ownership of a holding company (a limited company or similar) that company through its formation under the Companies Act 2006 or similar takes on 'legal personality'.

Should there be any legal issues they would go to the legal owners of EFC not necessarily him individually.

IF he died for instance - probate issues would be much simpler - in terms of day to day continous running of EFC.


Then there is also tax reasons. But also future investment strategies.

Someone with as complex business arrangements as him as a billionaire would be silly both legally and tax wise to have a company as complex as EFC - with ownership under his own name.

Not something that could be used at a future point (when we're successful) to pay dividends and take money out of the club?

Based on my reading of the way he operates - this is not the way he works. He's looking for asset (share value) increase and future share sales to offset his investment cost.

That is the difference in addition to competence - to Randy Lerner.

 

[bizzaro]

Check out @TheBlueUnion's Tweet:

Hmmm... not getting this at all like.

Think its far far far too early for any sorts of statements from Blue Union on this questionning what is going on.

Suggest they go and read some company law before commenting further. As there really is nothing to be worried about at this stage.

 

[KUEFC09U2]

Check out @TheBlueUnion's Tweet:

Hmmm... not getting this at all like.

Think its far far far too early for any sorts of statements from Blue Union on this questionning what is going on.

Suggest they go and read some company law before commenting further. As there really is nothing to be worried about at this stage.

They are completely nuts