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Latest Takeover Rumour. The Moores / Noell one

Are you For or Against the idea of the possible Moores / Noell takeover ?

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  • Poll closed .
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MoutsGoat said:
Not as good, but they will likely follow their business model, loans to purchase, share dividends, United make around 250m a season, so can afford this and still spend 500m on players, we cant and wont IMO.
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We have a history of an uneasy relationship with the banks. They won't be able to do the same to us without the banks baulking.
 
BoysInBlue said:
Let's not lose sight of the fact that the Swansea fan 'had a FEELING' that they wouldn't be right. They had no outright proof.
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I get the feeling from quotes about Royston Vasey etc you feel we didn't fancy the takeover cos we're a bunch of hillbillies who don't like intruders. Since Vincent Tan took over our biggest rivals we have been wary of foreign investment. Our current board have no money but they have done a good job & the Swansea fan who 'had the feeling' is in charge of the Supporters Trust, had conversations with Moores/Noelle & looked in to their background. If Everton supporters feel it's worth the risk then good luck to you. Do you have outright proof that their intentions are honorable. While you make up your mind, read this article that appeared in a San Diego newspaper in 2009:-

Moores, Cronies to Pay about $55 Million in Peregrine Settlement
By Don Bauder, October 16, 2009

  • Although all the details are not final, there is an agreement for John Moores and former board members and officers of fraud-tainted Peregrine Systems to pay roughly $55 million to victims of the swindle. The agreement was hammered out today (Oct. 16) by lawyers representing both sides. The deal will be submitted to federal judge Roger Benitez Monday for final action. "Everything is now approved," says San Diegan Richard Kipperman, who was appointed successor litigation trustee after an internal battle among attorneys pressing the case.

Moores was chairman of Peregrine with an office in the building. He had paid a mere 33 to 59 cents a share for his stock. He dumped $487 million of it during the actual fraud period, and about $650 million, almost all he controlled, through the history of the company. Several executives of the company were convicted criminally for their role in the fraud. Moores was never charged, and a judge in the criminal cases wouldn't let defense lawyers bring up Moores's windfall. Civil suits showed clearly that the board, including Moores, had been told of accounting and other irregularities by the chief executive, but one San Diego judge after another, including Benitez, let the board members, particularly Moores, off the hook. In one instance, the company's lawyer warned board members not to sell their stock, because they knew of an upcoming acquisition that might knock the shares down. Nonetheless, Moores dumped massively prior to the acquisition announcement. "The pigs are at the trough," said the attorney. Moores got away with it. He put some of the proceeds of his Peregrine stock sales into the Padres ballpark, subsidized by the City for more than $300 million. Moores is said to have made up to a billion dollars on land deals tied to ballpark district real estate that he got for a lowball price. He denies he raked in that much. He has now taken his winnings to Texas, after slashing the payroll of the Padres.

When it was evident that Peregrine would fall in disgrace, Moores brought in his personal attorney, Charles La Bella, who quarterbacked a study by the law firm of Latham & Watkins. To no one's surprise, it vindicated Moores and the board. The lawyer for the Securities and Exchange Commission bought into that Latham & Watkins study. Shortly, he went to work for Latham & Watkins.
 

here's another quote (this time from a website called gaslampball.com) from 2013;-

Moores left San Diego on bad terms with many Padres fans when he pocketed $200 million of the Padres' $800 million TV deal after the sale of the Padres was completed. The money was deemed by MLB commissioner Bud Selig to be rightfully his because of his stake in the team, but fans still pine for the lost payday.
 


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