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Financial Fair Play investigation

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Damo_1878 said:
No. That would be illegal.

It would be like admitting an illegal act in a legally required company annual report

A report that HMRC will read. Plus other government agencies.

A criminal act that would potentially see people go to jail for breaching Russia & Belarus sanctions laws

Bill Kenwright and Denise Barrett Baxendale as company directors would be equally liable in that event.
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Who’s the majority shareholder tbey refer to then?
 
gwladysnight said:
Not really we were supposed to supply the Premier League with our 20/21 accounts before the 1st of March 2022. Our accounts for that period were filed late. Significantly we have changed auditors since then. That is despite Moshiri stating that BDO would remain our auditors.
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I mean it's not illegal to change auditors is it, the last time I checked?

I agree its unprofessional to supply accounts late, but it's not illegal. They were passed, with the PL re enforcing their decision to accept the accounts in the following accounting year (that summer).

I'm unsure what has changed between now and then? Has there been a change in accountancy law? Or a public statement explaining in a change of approach to how they interpret the income statement?
 

Bez2k2k said:
Who’s the majority shareholder tbey refer to then?
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Just for those reading on here
If it were proven that anyone involved at Everton were involved with Usmanov and/or were breaching financial sanctions

e.g. Bill Kenwright as club chairman
That individual could get up to 7 years in prison, upon conviction under the The Policing and Crime Act 2017, as amended by the The Sanctions and Anti Money Laundering Act (2018)
 

Bez2k2k said:
They then say, the majority shareholders, majority shareholder…. So who is that
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Moshiri.

In law, Blue Heaven Holdings Limited in the Isle of Man is a 'legal person' that holds the shares

Farhad Moshiri is a 'natural person' that owns Blue Heaven Holdings Limited and/or through this owns Everton Football Club and/or group companies

Edit. This sort of arrangement is common for tax purposes

Natural persons pay 'capital gains taxes' whereas legal persons pay 'corporation taxes' etc
 
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kenada_blue said:
You have to have success on the pitch to get the income up. We're the 19th richest in world football for commercial revenue. We have the biggest shirt sponsorship deal outside the "big 6".

That's an awful relegation threatened side with zero European football. Can't see how we can improve that unless we get better on the field.
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The fact that we are comparatively rich in terms of world football makes the going concern comments so galling. The mis-management of the club has been epic.
 

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