Panorama to question ownership of Everton

[magicjuan]

aye, the Echo liveblog on Everton has been active since 7am but no mention of The Times article yet...

Wait till they log on here...

 

[Khalekan]

I was merely being the cheese to our esteemed posters cracker my good man.

I agree though, Everton stinks to high heaven.

That’ll be the Camembert on the cracker, innit

 

[Yarrgh]

The more I think about it, the more I think this is going to be a non event. You could question the manipulation of Moshiri's Arsenal shares and the USM Finch Farm sponsorship deal but haven't they already been scrutinised? Probably more questions for Arsenal than us and probably not so many for them.

I wonder what new gloom will arrive tomorrow on top of Troy Deeney's hat trick.

 

[Khalekan]

I just logged on to see what today's catastrophe was.

Well done Everton! Why did I pick this user name again?

lol

 

[magicjuan]

As I said it’s not as straight forward. If it was the FA rules on ownership would not even be in place .


We can argue about how robust or otherwise governance is in football but you can not be involved with two clubs either directly or indirectly and as we know Usmanov owns over 30% of the shares in Arsenal that means he cannot have any involvement or indeed link with Moshiri in relation to football ownership.

When Moshiri purchased the shares in Everton it is Everton that have responsibility for completing appropriate forms and sending them to the FA in terms of firstly share ownership and next in terms of his appointment as a director.

In relation to how share purchase can be financed in normal business is one thing but in terms of football it’s a whole different thing.

As for Everton not being in trouble on the face of it you may be right but there are a whole lot of unknowns such as what forms were submitted, what was uncovered by way of due diligence etc. We don’t know enough to just dismiss the knock on effect if there is a link between Usmanov and Moshiri.

If and I agree it’s just an if at this time there is a link then in the outcome would be that primarily Usmanov would have to make a choice as to which clubs he wants to be linked with but how that would the play out I have no idea.

Do Arsenal have a responsibility likewise as Usmanov a major shareholder, to monitor even tenuous links to another club?

 

[brieverton]

I can’t see how Usmanov’s business strategy would in any way be expedited by a BBC investigation.

He is hardly going to be bricking it.

I don’t buy into the idea he’ll buy us/Moshiri out eventually. If the stadium comes to fruition I think there will be no shortage of bidders.

Still seems to me that Moshiri just wanted to direct this on his own and gets limited financial assistance from Usmanov together with his address book.

 

[mahermi1]

They just hate Everton having a bit of money don't they jn+

 

[jazzy]

If Usmanov gifted the Arsenal shares / money to Moshiri unconditionally then it does not matter what Moshiri subsequently does with the proceeds.

However if there was , in effect , a trust created for Moshiri to hold those Arsenal shares for Usmanov and a continuing trust in relation to the proceeds then there is a potential problem.

 

[Neiler]

I think the fact that Usmanov gifted the shares then paid to buy them back is a rather bad sticking point that will be looked in to...

Its suspicious, but illegal or even breaking a rule? Nah.

If he gifted them back its even more suspicious.

*Lols at Panorama.

 

[Khalekan]

That's pretty much it, but occasionally a story gains traction and something happens. It'll be on the BBC iPlayer but if that's geolocked in your location then you will have to use your ingenuity to find a stream online.

Someone is bound to put it on YouTube or Vimeo.

 

[Khalekan]

As a non-UK person, can someone explain what this Panorama thing is? I'm guessing it's like an investigative journalism type show. Does anything usually happen afterwards? Or do things get forgotten about after a week. Also is there any way to watch the show?

It will most likely go up on YouTube at some point.

 

[magicjuan]

I can’t see how Usmanov’s business strategy would in any way be expedited by a BBC investigation.

He is hardly going to be bricking it.

I don’t buy into the idea he’ll buy us/Moshiri out eventually. If the stadium comes to fruition I think there will be no shortage of bidders.

Still seems to me that Moshiri just wanted to direct this on his own and gets limited financial assistance from Usmanov together with his address book.

Still think Moshiri is an outrider, sent off to survey the land and put foundations in place. Once there is a genuine and viable opportunity then certain 'investment vehicles' will come flying over the horizon. LCC have to have done due diligence to make the public statements they habe so far, not necessarily 'kosher' but enough to know if any stuff is flung that it won't stick on technicalities.

 

[Neiler]

If Usmanov gifted the Arsenal shares / money to Moshiri unconditionally then it does not matter what Moshiri subsequently does with the proceeds.

However if there was , in effect , a trust created for Moshiri to hold those Arsenal shares for Usmanov and a continuing trust in relation to the proceeds then there is a potential problem.

But it doesnt make a blind bit of difference gift or not.

Surely if there was an undehand predetermined strategy going on the best approach would have been for Usminov not to gift the shares at all and just keep them as it is now. Just give Moshiri the nod to buy Everton laterally. Not the smoking gun in my opinion.

 

[jazzy]

But it doesnt make a blind bit of difference gift or not.

Surely if there was an undehand predetermined strategy going on the best approach would have been for Usminov not to gift the shares at all and just keep them as it is now. Just give Moshiri the nod to buy Everton laterally. Not the smoking gun in my opinion.

I have no idea how Moshiri funded the purchase of his Arsenal shares / Everton.

I am simply stating the legal postion based on the premise stated in this thread that Usmanov gave the money to Moshiri to invest in Arsenal.

 

[Khalekan]

The consequences, if any, will depend upon what was presented to the FA during due diligence.
The BBC claim to have documents that show Moshiri was gifted the Arsenal stake that was ultimately sold to fund his purchase of EFC.
If Mosh had claimed that he was the source of those original funds then we have a problem. If not, I expect the usual dismissive statement from UsMosh followed by nothing much.
This is likely an escalation of the Kronke war. Anyway we all know Usmanov has zero involvement in EFC. Esk said so. ;-)

Apart from the fact there is, IMO, absolutely nowt wrong with doing that, that stuff was pretty much public knowledge all along.

We certainly knew that he got the readies to buy in here by selling off his Arsenal shares.

And it has been pretty clear all along that he accumulated his wealth in the first place due to Usmanov’s largesse, a reward for being Ali’s bagman.

So Usmanov gifting him shares in the first place comes as no surprise nor does it appear illegal.