Iranian-born businessman Farhad Moshiri has become Everton's largest shareholder with a 49.9% stake in the club
Everton have confirmed that, pending Premier League approval, Moshiri has acquired a 49.9% position that makes him the club's largest stakeholder and while it does not give him de jure control overall, it effectively amounts to a takeover given the superior position it would afford him in the boardroom.
American-based leisure tycoon Robert Earl has reportedly sold his 23% stake in Everton while Jon Woods and Bill Kenwright have reduced their own holdings from 26% and 19% respectively to usher in Morshiri as the club's biggest shareholder.
The news follows a flurry of speculation last night regarding the future of the club that began with an exclusive claim by MailOnline that mystery a Middle Eastern buyer was on the verge of completing a takeover at Goodison Park.
The Telegraph, with a number of other media outlets including the BBC following suit, this morning named Moshiri as the man behind a £200m takeover bid for 75% control of the club – the funds coming from the sale of his 15% interest in the Gunners to his long-time business partner Alisher Usmanov which was completed yesterday – but the actual deal, while smaller in structure, nevertheless gives him de facto control.
It also leaves Bill Kenwright as Chairman at Goodison, something that insiders suggest was an important factor for him and which may have been one reason why the investment proposal from the US consortium led by John Jay Moores and Charles Noell failed to come to fruition.
It has not yet been confirmed how much Moshiri has paid for his shareholding – there are reports from Sky Sports sources it's an investment worth £85m which values the club at £175m with promises to invest in the squad and address the stadium issue while rumours elsewhere suggest that he paid just £30m on the proviso that Morshiri ploughs money into addressing the stadium issue – but it does see Earl ending his decade-long association with Everton.
In a statement on the official website, Kenwright said of the news: “After an exhaustive search I believe we have found the perfect partner to take the Club forward. I have got to know Farhad well over the last 18 months and his football knowledge, financial wherewithal and True Blue spirit have convinced me that he is the right man to support Everton.”
Moshiri, meanwhile, said: “I am delighted to take this opportunity to become a shareholder in Everton, with its rich heritage as one of Europe's leading football clubs. There has never been a more level playing field in the Premier League than now. Bill Kenwright has taught me what it means to be an Evertonian and I look forward with excitement to working with him to help deliver success for Everton in the future.”
Iranian by birth but a British passport holder who now resides in Monaco, Moshiri, 60, is believed to be worth £1.3bn. A chartered accountant by profession, he made the bulk of his fortune through strategic investments in steel and energy companies in the United Kingdom and Russia. In addition, he also owns 5% of Usmanov's Mettalloinvest holding.
He bought into Arsenal alongside Usmanov under the banner of Red & White holdings and it's believed that Kenwright's close relationship with David Dein at the Emirates helped grease the wheels for Moshiri's investment.
Speculation that Moores and Noell would become Everton's new owners had receded after their period of exclusivity passed at the start of the month.
Reader Comments (415)
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1 Posted 27/02/2016 at 15:47:44
3 Posted 27/02/2016 at 15:55:16
This takeover talk is doing my head in though and 'imminent' in Everton's case should be redefined as anytime between this afternoon and 2025.
5 Posted 27/02/2016 at 15:57:57
7 Posted 27/02/2016 at 15:59:24
8 Posted 27/02/2016 at 16:06:01
10 Posted 27/02/2016 at 16:09:11
11 Posted 27/02/2016 at 16:09:24
12 Posted 27/02/2016 at 16:14:07
13 Posted 27/02/2016 at 16:17:12
Don't know where to start with that one, mate!
14 Posted 27/02/2016 at 16:26:47
The Americans have backed out, what did they not like! that's if its true they have backed out, who knows.
If we are asking 𧶀m for the club, that looks cheap to me, what with the tv money and the value of the players we now have.
15 Posted 27/02/2016 at 16:36:55
How true that is, I don't know.
16 Posted 27/02/2016 at 16:37:59
So now we know the identity of that Gooner fan who came on TW last week saying what a wonderful club Everton was!!!
He must have been a messenger of the gods!
18 Posted 27/02/2016 at 16:41:17
19 Posted 27/02/2016 at 16:41:54
Plus, the stadium is more a liability than an asset. The 𧷂m valuation is because of the size and quality of our name and following. Here's hoping fresh investment and wise management can grow us into an Arsenal of the north!
20 Posted 27/02/2016 at 16:42:54
22 Posted 27/02/2016 at 16:46:36
23 Posted 27/02/2016 at 16:46:58
24 Posted 27/02/2016 at 16:48:36
25 Posted 27/02/2016 at 16:50:58
26 Posted 27/02/2016 at 16:51:57
27 Posted 27/02/2016 at 16:52:44
28 Posted 27/02/2016 at 16:54:33
29 Posted 27/02/2016 at 16:54:44
30 Posted 27/02/2016 at 16:55:01
Sort of out of the blue after so many false dawns. Will he invest?
31 Posted 27/02/2016 at 16:55:56
32 Posted 27/02/2016 at 16:56:23
33 Posted 27/02/2016 at 16:57:55
34 Posted 27/02/2016 at 16:58:33
35 Posted 27/02/2016 at 16:58:50
36 Posted 27/02/2016 at 17:00:46
37 Posted 27/02/2016 at 17:02:36
38 Posted 27/02/2016 at 17:03:10
Can you get rid of that Chang piss as one of your first jobs? Cheers.
39 Posted 27/02/2016 at 17:03:55
40 Posted 27/02/2016 at 17:06:04
42 Posted 27/02/2016 at 17:08:54
43 Posted 27/02/2016 at 17:12:21
The worrying thing is, Chelsea are starting to do things we cant do, which doesn't bode well for our upcoming FA Cup tie. Ah well! I suppose you can't have jam on both sides!
44 Posted 27/02/2016 at 17:13:55
45 Posted 27/02/2016 at 17:14:07
No mention of the sum invested. Seems willing to work with Bill.
46 Posted 27/02/2016 at 17:14:37
Also, will we still be run like a small club with Bill and his buddies still on board. We need to be run like a proper business.
I don't know why but I feel a bit flat and deflated about it all.
47 Posted 27/02/2016 at 17:17:03
Five minutes ago, I saw a 'Billionaire buy out' had supposedly taken place, quickly followed by news that Tim Howard was being binned off. I was so overjoyed at the footballing Gods seemingly smiling down on us twice in quick succession that I was seriously tempted to go on a Frank The Tank style streak down the front street.
Now, after reading the above statement about Kenwright, my kit is well and truly staying on for now.
48 Posted 27/02/2016 at 17:19:13
If he done this, he needed to announce his intentions of a takeover and make an offer for ALL other shares.
As I say, I VAGUELY remember a scenario like that. So maybe the 49.9% is enough to give him control without the risk of having to buy everyone out (and thereby potentially doubling the initial layout of his investment)
49 Posted 27/02/2016 at 17:19:50
From a PR/legacy perpsective Bill will be able to convince others and himself he didn't give the club away completely, but in practical terms he has. May make Bill feel better though.
I wonder how much Moshiri has paid for his holding?
50 Posted 27/02/2016 at 17:20:29
51 Posted 27/02/2016 at 17:21:47
52 Posted 27/02/2016 at 17:22:04
53 Posted 27/02/2016 at 17:23:40
54 Posted 27/02/2016 at 17:23:45
55 Posted 27/02/2016 at 17:24:54
Their total ownership was ~67%, so that leaves one or more of the triumvirate with ~18% of shares.
56 Posted 27/02/2016 at 17:25:03
57 Posted 27/02/2016 at 17:25:56
58 Posted 27/02/2016 at 17:26:09
59 Posted 27/02/2016 at 17:26:22
This will be presented as Bill protecting the spirit of the club but it is a recipe for confusion in the future and it is a characteristic Everton/Kenwright fudge.
Let us hope for a surge forward but this is not the clean takeover I wanted.
60 Posted 27/02/2016 at 17:28:32
61 Posted 27/02/2016 at 17:29:10
Here, I am Moshi... two more shares could take you over the 50% mark... just call me anytime!!!
63 Posted 27/02/2016 at 17:29:52
64 Posted 27/02/2016 at 17:31:10
Hopefully, this guy is just a front for some mad Ayatollah who wants to spend his new found oil bonanza...... oh, wait a minute, oil prices are plummeting. Can we get the yanks back?
66 Posted 27/02/2016 at 17:33:12
Welcome to the rollercoaster ride, Mr Moshiri.
68 Posted 27/02/2016 at 17:34:34
Moving back on topic, as others have said, this has turned a bit disappointing now that it doesn't portend the radical change we were hoping for.
69 Posted 27/02/2016 at 17:35:00
This effectively hands some power to small shareholders for the first time in many years, which is remarkable.
The People's Club lives!
I don't think there are implications for other shareholders as we are a privately traded company.
70 Posted 27/02/2016 at 17:35:23
71 Posted 27/02/2016 at 17:36:11
72 Posted 27/02/2016 at 17:36:29
Anything other than a new stadium or major revamp of Goodison within 3 years is a waste of time. Let's give it a chance and hope for the best.
73 Posted 27/02/2016 at 17:38:43
I don't see a revolution on the cards like Man City. But it should give us enough clout to keep our best players for the time being and hopefully a kitty to upscale. What we want is a stadium for the ages! Please bring us what this club deserves!
74 Posted 27/02/2016 at 17:39:26
75 Posted 27/02/2016 at 17:39:35
At the same time, after the many years of hoping and wishing, this somehow feels anti-climatic. Not sure why though. I must be in shock..
76 Posted 27/02/2016 at 17:39:40
77 Posted 27/02/2016 at 17:40:55
78 Posted 27/02/2016 at 17:42:13
79 Posted 27/02/2016 at 17:42:58
The remainder of their shares will, if we continue in the Premier League, gain value in the short term, especially if they ride the back of the guy who is funding the future of the club. They gain, no pain.. perhaps the minority shareholders should offer shares to him to get him over the line?
We await the finer details of the deal but I have to say it's probably why the American deal didn't go forward, they definitely would have wanted control.
I suspect BK now has a minority shareholding and has kept his Chairman's role.. but that's not going to work.
80 Posted 27/02/2016 at 17:42:58
81 Posted 27/02/2016 at 17:43:56
82 Posted 27/02/2016 at 17:44:42
If you need a lift to take your shares to Mr Moshiri that gives him a majority there are tens of thousands of cars revving up.
Disappointed that Kenwright is staying but at least we have genuine businessmen now.
83 Posted 27/02/2016 at 17:45:05
Can't imagine this guys bought 49.9% to just sit back and let BK and Sideshow Bob carry on running things.
What this means for RM is another matter. I predict no major change until the end of season. Still some light at the end of the tunnel.
I wonder what the shares were bought for....
84 Posted 27/02/2016 at 17:45:24
Heroically selfless to the end.
I guess we know now why Martinez was making noises recently about how we all wished Kenwright could hang around forever as football's first cryogenically frozen chairman and be thawed out thousands of years in the future to enthral our descendants with 'straight from the horses mouth' tales of how he mortgaged his house to save Everton, sang with Elvis and battled a Minotaur in the Boys Pen.
85 Posted 27/02/2016 at 17:47:03
86 Posted 27/02/2016 at 17:48:11
But I think this is very good news. Better than the Americans.
87 Posted 27/02/2016 at 17:48:18
We don't know yet from whom the shares have been purchased. True Blue Holdings owned 75% of which BK's share was 26%. That leaves 49%.
He may well have retained his shareholding.
88 Posted 27/02/2016 at 17:50:06
89 Posted 27/02/2016 at 17:50:08
We ain't going to see a Man City or Chelsea-style investment. Let's hope he soon sees through the charlatans and is serious about investing in us etc. For the time-being, though, not a lot will change with BK and Roberto still involved.
90 Posted 27/02/2016 at 17:51:04
I still don't understand why Moshiri accepted 49.9%... Is it a case of watch this space?
91 Posted 27/02/2016 at 17:51:16
I like the sound of this deal, Moshiri is meant to be a very astute business man and has also been involved with a very well run club in Arsenal so he's already been involved in the English game and knows what it takes to try and be successful in the prem.
Hopefully he gets us on a brilliant financial footing, gets in good sponsorship and the revenue streams booming so we can generate enough cash to build a world class squad aswell as be able to buy our training ground and build a stadium and really move forward!
92 Posted 27/02/2016 at 17:51:36
Let's see if he does buy the shares, what progress is made on the stadium plans, and how much Martinez, if he stays, gets in transfer funds, but if this is all we are getting is an investment, then I really am very disappointed.
93 Posted 27/02/2016 at 17:53:18
Barely a billionaire? Come on, lad, we have had 12 years of a bollocks-talking chairman who, along with his board, never invested a ٟ coin into the club.
94 Posted 27/02/2016 at 17:53:37
95 Posted 27/02/2016 at 17:56:58
Please let's not have a "Little Everton" situation that we will still be left dreaming of "if only..."
96 Posted 27/02/2016 at 17:59:27
97 Posted 27/02/2016 at 18:00:20
It seems that the new owner may just be keeping the present managerial setup in position while he familiarizes himself fully with Everton FC before he makes changes. It is basically a takeover that will show what changes are to be made in the future. Nobody surely expects that this new owner of Everton FC will just sit back and let Kenwright do things that he does not agree with.
Colin (#53), This new owner holds a British passport and according to various reports his money was made from dealing in the Russian steel industries and telecommunications so I doubt if he is interested in any oil dealings.
We as supporters have been crying out for someone else to take over the club and it has usually been asking for a billionaire to do it; we have now got one, so let's see what he is going to do before we start slagging him off.
98 Posted 27/02/2016 at 18:01:11
If he can bring in just a small percentage the commercial success the big clubs enjoy, along with moving along the stadium issue, then we're already better off.
I'm excited we will finally see a modern, businesslike approach from a serious investor we have been crying out for since the start of the Premier League, even if that means the boardroom is still awash with tales of Tommy Steele and uncle Cyril.
99 Posted 27/02/2016 at 18:01:20
Far too soon for cartwheels, I assure you. My own guess is that he's done no more than ease Green's and Kenwright's financial burden.
100 Posted 27/02/2016 at 18:02:20
101 Posted 27/02/2016 at 18:02:30
Yes, I share the sentiments. It's not the Willy Wonka winning ticket takeover like they had over at Chelsea or Man City. Putting it into perspective, our new major shareholder has the comparative wealth of Peter Coates at Stoke City an estimated £1.6 billion fortune.
We don't know the details of who's sold what shares but I'm hoping this means we see the back of Robert Earl and Philip Green being a friend of the club.
102 Posted 27/02/2016 at 18:06:14
Does this mean Usmanov is looking to unload his shares at Arsenal and take the other 50.1% of Everton at some point in the future???
Reading between the lines, Moshiri and Usmanov could not have a stakehold simultaneously in Everton and Arsenal (FA rules). If Usmanov has decided his days of attempting to take control at The Arsenal are over, this was his quickest route to goal. It will also allow him time to unload his shares in the Gunners!
For those moaning about the takeover already... why? You have no idea as to the parties' intentions and neither do I. What is common knowledge is that Sir Phillip Green was backing Kenwright (and is probably now paid off) and Moshiri will not be doing this without the backing of Usmanov...
103 Posted 27/02/2016 at 18:07:48
He may be content to keep Bill Kenwright as a figurehead, and that's a role to which he is suited.
104 Posted 27/02/2016 at 18:07:54
Can only be a good thing which will be better in time when the new guy starts ringing the changes.
105 Posted 27/02/2016 at 18:08:09
Yet another example is that the shareholder agreement may actually limit the veto rights of other shareholders to a pre agreed set of decisions, which would have the effect of conferring day-to-day control to Moshiri and his representatives.
Unless (if ever) we see the details of the acquisition, the only clues on the new investor's influence will be in his deeds. If Elstone for example is replaced as CEO with a Moshiri appointee, we may be seeing a new and hopefully golden era.
106 Posted 27/02/2016 at 18:08:42
This guy has been the majority shareholder for an hour.
If he goes 12 years without investing he will be on the same level as Kenwright.
108 Posted 27/02/2016 at 18:10:05
110 Posted 27/02/2016 at 18:11:02
On a serious note, you have to think this guy will bring about a change in our commercial activities. Bye bye, Elstone?
111 Posted 27/02/2016 at 18:13:15
112 Posted 27/02/2016 at 18:13:49
Apparently promises re squad and stadium investment. Sounding better and better.
Evertonian chairman, billionaire major shareholder who promises to invest in the squad and stadium. Young, talented squad and an open Premier League. We could really progress. COYB!!!
113 Posted 27/02/2016 at 18:14:58
He gets out of Arsenal because he has little sway then let's Kenwright pull one over him. It's like the Middle Eastern takeover of Portsmouth all over again. Just a stunt to sell season tickets.
114 Posted 27/02/2016 at 18:16:36
115 Posted 27/02/2016 at 18:16:39
Much maligned as Kenwright is I'm sure he wants to see the club go forward and has hopefully chosen well. I doubt he'll be around much longer so worries about his long term future involvement are probably nothing for anyone to worry about.
On a separate point it's tiresome reading the negative spouted about other nationalities and how they do things. I was born and bred in Britain and vast numbers of British people I encounter are nonsense parcels.
116 Posted 27/02/2016 at 18:18:45
Nudge nudge, wink wink.
117 Posted 27/02/2016 at 18:18:50
118 Posted 27/02/2016 at 18:19:34
119 Posted 27/02/2016 at 18:20:53
120 Posted 27/02/2016 at 18:21:21
And Bill is still very much with us.
121 Posted 27/02/2016 at 18:21:47
122 Posted 27/02/2016 at 18:27:51
123 Posted 27/02/2016 at 18:28:00
Everton are hopefully about to turn the corner and become the force they deserve to be.
124 Posted 27/02/2016 at 18:28:44
The guy has football knowledge. He comes from one of the best-run clubs in the world. He has more money than the previous shareholders. He's instigated a move which causes little disruption mid-season.
I only wanted a new owner who would look to improve the infrastructure at the club. I'm full of hope in this regard due to his experiences at Arsenal.
It suits BK as, if the rumours of his ill-health are true, it releases the sole burden from his shoulders.
We await to see the actual share movement (who sold what), but I'd imagine in BK's situation he'd of sold most of his holding but remains chairman to maintain familiarity whilst the new guy settles, plans and strategises...
125 Posted 27/02/2016 at 18:30:31
Watch this space...
126 Posted 27/02/2016 at 18:30:33
Total shares: 35,000
Moshiri: 17,465 (49.9%)
Woods: 6,347 (18.13%)
Others: 11,188 (31.97%)
Kenwright and Earl have sold all their shares
Share Purchase Price: 㾶,000/share (Values Everton FC @ 𧸖 Million!)
Sale Amount: 𧵦,650,000
Purchase price: ٟ,100 /share (1999)
Not a bad investment along with all the lawn mowers he has stockpiled... Kenwright and Woods stay on the board. Earl leaves the club. All the figures above arenÃƒÂ¢Ã‚â‚¬Ã‚â„¢t confirmed. WeÃƒÂ¢Ã‚â‚¬Ã‚â„¢ll find out more in a few weeks. NSNO
Hopefully we finally have the money to back the motto... And the first thing the new owner does is call Elstone a taxi...
127 Posted 27/02/2016 at 18:30:33
128 Posted 27/02/2016 at 18:33:01
129 Posted 27/02/2016 at 18:34:09
We've been saying the club have needed fresh investment blood for years and now after multiple wrong turns we've got it. With the added advantage of not being totally at the mercy of someone unknown who could be totally in it for short terms asset stripping (which is what the American deal reeked of).
Granted it's not the Saudi royal family or some Russians looking to wash their money, but a smart businessman with experience at Arsenal (in my view one of the best run clubs in the country) and no doubt a point to prove, will do for me. Welcome Mr Moshiri!!
130 Posted 27/02/2016 at 18:35:38
131 Posted 27/02/2016 at 18:37:06
132 Posted 27/02/2016 at 18:38:17
133 Posted 27/02/2016 at 18:38:57
The fact that Kenwright is remaining gives me bad vibes from the off. Not only has his regime failed in a business sense, he is a proven liar not a nice man at all.
At this point, until I am shown something positive (a new stadium in WHP for example) I fear this will just be another patsy and more of the same old, same old.
134 Posted 27/02/2016 at 18:39:26
My main worry is that Kenwright remains. He has had his time and should have had the awareness to stand down.
Well, we shall find out where all this goes when the hard practical decisions and hard expenditure are carried through on the stadium and players. There can be no ambiguity there.
135 Posted 27/02/2016 at 18:40:10
136 Posted 27/02/2016 at 18:41:40
137 Posted 27/02/2016 at 18:42:43
We have been screaming for investment for years and here we have a BILLIONAIRE who has a great track record as a businessmen with another huge Premier League club and people still complain.
I am much happier with this arrangement than a consortium of yanks sucking the blood from he club.
Some fans are never happy......
Welcome, Mr Moshiri, I for one will be fully behind you from the start.
138 Posted 27/02/2016 at 18:42:44
BK sold all his shares but remains as Chairman... correct?
That just smacks of a golden parachute and a position that will have no real bearing on Club policy?
Or am I reading this all wrong?
139 Posted 27/02/2016 at 18:43:04
140 Posted 27/02/2016 at 18:43:29
Thanks, Mo, for that. Some moaning Donald Duckers on hear will never be happy.
141 Posted 27/02/2016 at 18:43:51
International businessman with real money and a long-term interest in the Premier League.
BK to help the transition makes sense too - I guess we'll see what plans the new guy has over the next 5 years.
A stadium and some sort of international commercial presence would be a start.
142 Posted 27/02/2016 at 18:45:44
A great way forward for now the future looks much better than it did 6 months ago.
143 Posted 27/02/2016 at 18:46:18
This guy is clearly clever, educated and a very good and experienced businessman. He is hardly likely to have paid out this sum to leave Bill or Jon in a position of control. He will be in control of what goes on now but will need someone alongside him for a while I should think to help. He will never have experienced the transfer window, will never have negotiated a contract with a player etc and Bill can be of great help to him for a while in an advisory capacity and figurehead if the new guy is not too anxious to deal with the more public side of things from day one.
He has plenty of money and being a mate of Usamov he will presumably have a number of very wealthy contacts who may invest or at least be able to assist him in taking the club forward.
Some people will always see negatives but, to me, this is a great move forwards for the club and supporters alike.
We have people still on the board with the club in their blood who can educate the new guy and help him to understand the club and how the supporters view it surely far better than having a new owner all on his own with no understanding of the institution he has bought?
144 Posted 27/02/2016 at 18:46:55
145 Posted 27/02/2016 at 18:47:29
I was referring to Kenwright and his cronies not investing a penny in the club. Maybe we have already been subject to a hostile takeover.
Hopefully now good things will happen.
147 Posted 27/02/2016 at 18:48:14
148 Posted 27/02/2016 at 18:49:05
149 Posted 27/02/2016 at 18:49:28
If you are right, I shall hope to be the first to congratulate you!
150 Posted 27/02/2016 at 18:51:32
Everton FC have this aura of a traditional English club. As a result, people would have been sad to see us sell out in the way Chelsea and, to a lesser extent, Manchester City have done. However, what we all wanted as Evertonians is someone with financial and business acumen who can come in and push this club on financially to the next level, as we fall down commercially in so many different ways.
This is exactly what this guy brings. Yes, he's not a multi-billionaire like the Abu Dhabi group at Eastlands and hasn't made his money from oil roubles like them lot down the Kings Road. However, he brings financial knowledge and also a passion for sport, driven by his previous stake in Arsenal.
Yet by not assuming full control, he allows Kenwright to stay on. If there is one good trait about Kenwright, it's that his heart bleeds Blue. Irregardless of whether you feel he has had the best interests in Everton FC over the past 17 years, one thing you cannot deny is that by retaining some element of input, he will be able to show to Mr Moshiri why we are the greatest football club the world has ever seen.
So we get the best of both worlds a majority shareholder with (some) money to burn both on player assets and infrastructure, while retaining our soul as a traditional English club, with a fan as co-owner. And after Mr Moshiri purchases the remaining shares, having been indoctrinated in the Everton way, who knows, he may have further increased our value both on and off the pitch.
Exciting times. Can't wait to see what summer brings.
151 Posted 27/02/2016 at 18:52:49
152 Posted 27/02/2016 at 18:53:27
But Moshiri is an accountant, astute businessman with wealth who will not let us slip under and go to the extremes of the likes of Portsmouth have!
I'm pretty sure he will know a lot of wealthy people and would possibly be able to bring in further investment in time and he will be able to improve our financial revenues through sponsorship and franchise etc and I believe he will get us in a very healthy position financially for us to progress.
I'm more happier knowing this bloke has bought into us who knows the English game and knows how a well run club in the Premier League works in Arsenal compared to some Americans that have not got a clue about football.
153 Posted 27/02/2016 at 18:55:19
Bill has always stated that he loves our club and would invest if he had the money, but was never wealthy enough to contribute anything meaningful due to this shortfall in major funds.
If the figures are even roughly correct and he is to remain at the club, then he is now in a position to put his money where his mouth is.
Just a thought.
154 Posted 27/02/2016 at 18:55:19
If you want to pool your two with my shares we may be able to propose a consortium which provides a voting block ToffeeWeb Holdings?
155 Posted 27/02/2016 at 18:56:00
156 Posted 27/02/2016 at 19:00:48
157 Posted 27/02/2016 at 19:02:09
I'm not very bright at the way things will work at the club after today's developments but, if Kenwright has sold all his shares, in what capacity will he remain in, if as you say, he stays at the club?
I appreciate it is early days so you might not be able to answer this question.
158 Posted 27/02/2016 at 19:03:27
I don't know how people can look at this news negatively. A billionaire who has proven Premier League experience in what's it all about as a business wants to invest his money in Everton doesn't that say something in itself ?
As someone else said, he will want to get Everton to the same level as Arsenal both on and off the field. Welcome to Everton FC Mr Moshiri, and BK I wish you well with your health well done.
159 Posted 27/02/2016 at 19:03:39
160 Posted 27/02/2016 at 19:03:48
Yes, there are owners richer as mentioned, but we don't need a whole new team, we do spend wisely and on quality. That's the difference in us and Newcastle for example. Look at our squad without a rich owner; now try and fast forward the negative thoughts what we can achieve now we have one. This is brilliant for Everton.
Bill as Chairman is probably a token gesture, given his health. Smacks of class by our owner. Come on, cynics be cautious if you must but stop making my chips smell of piss, I'm trying to celebrate here!!
161 Posted 27/02/2016 at 19:04:37
Conclusion: he might be a new John Moores. Setting high standards without throwing money around.
162 Posted 27/02/2016 at 19:06:53
163 Posted 27/02/2016 at 19:07:14
164 Posted 27/02/2016 at 19:07:57
Mr Moshiri has been involved in one of the best run clubs in the country for a long time. He appears to be no duffer and has an extremely rich and powerful man who has trusted him in business affairs.
I've no doubt that our new investor has had many talks with Kenwright and has a good idea about how he intends to take us forward as one of the most successful clubs in England. My first reaction was utter joy and disbelief that we have actually got someone with business acumen, a background in accountancy, powerful friends and a fair old bundle of cash, immediately followed by a negative reaction to the news that BB is still Chairman.
I think, though, it makes sense. For all that, I don't see him (and never have) as some kind of True Blue hero who steadied the great ship SS Everton and single handedly stopped it floundering on the rocks. I think he held us back, he knows the club, the workings of it, the history of it, is popular with a lot of fans, and probably the players and manager as well. So I think he'll be the front man who can see himself in the role of Chairman, while Mr Moshiri has the power to make decisions.
What I hope, and what I think will happen, is that any undue influence that Sir Philip Green has had will disappear and so will all the iffy loans from BVI. Not being up in the ways share ownership and related topics, it seems to me he has controlling interest in Everton FC and will undoubtedly gain support from minor shareholders, at the very least, to begin the work of taking us back to where we belong. So I think, and hope this is great news for Everton FC and all who support The People's Club.
If he tries to work by one guiding light and that is "Only The Best is Good Enough", then we're on our way back lads. It won't happen overnight there's lots to put right but I think there'll be a fair few clubs wondering about us now.
165 Posted 27/02/2016 at 19:08:23
166 Posted 27/02/2016 at 19:08:49
167 Posted 27/02/2016 at 19:10:21
How do we know he has paid 𧵧 million for that? Could it be that 𧵧 million is the total value of the club meaning he paid half that for shareholding?
Lastly, is only buying 49.9% a deliberate act as if he bought more than 50% would he possibly be legally required to offer the same price to all shareholders? There are many questions currently unanswered!
168 Posted 27/02/2016 at 19:12:52
169 Posted 27/02/2016 at 19:12:59
Wow. So much we could all write today and want to say.
It's 9am here in Alaska, I just woke up after a quite peaceful (my two young sons were good last night) but optimistic night's sleep. I say optimistic because when I went to sleep 7 hours ago, there were, just like the last 20 years or so, rumors flying around that something great was about to happen to mine/our beloved football club.
Now we had all heard it before, the false reports, idle promises etc etc. Then came the recent USA rumors very strong ones as well, and we were all very optimistic, albeit cautiously. Was that a smoke screen? Who knows. Like transfer rumors, they can spring up from nowhere, have so many believing in them and then only to pan out as absolute tosh.
Well its true this time. Quite true. There are still questions, and of course the proof of whether or not this is what we have been looking for to take us to the next level, but EFC have money behind them.
A lot of money. What is done with that money remains to be seen and we can all hope and dream of an improved Goodison or new stadium, the ability to attract the worlds best players to add to our already great team (yeah we are really, be honest folks, we are just a little rough around the edges).
It took time, but does anyone else feel REALLY proud? Just think about the deal and of course we do not, and may never know the full details, to me though I feel like we have played a blinder here. Only 49.9% sold? Kenwright still around love him or hate him he is an Evertonian who freakin LOVES the club, no denying that.
So the loyalty, heart and soul remain, BUT WITH MONEY to go along with it? It took so long, but Bill kept saying he wanted to find the ABSOLUTE best deal for Everton. Maybe, just maybe this time that was not bullshit.
Did I cry, am I emotional when it comes to the Blues? You are damn right I did/am, I have been an Evertonian for the full 47 years of my life, no questions asked.
I have seen glories that are hard to describe to Blues fans who unfortunately missed them. I cried at Highbury and Wembley in 1984 (gushed actually), I cried so many times during the 1984-1987 seasons I can't even remember, mostly joyous ones, some utter despair. Don't even go there v Wimbledon and Coventry. I cried again this morning at the news. That's who I am, I care deeply for the fortunes of my beloved Everton.
It's difficult supporting a team from afar. Am I still loyal? Don't anyone ever insult me by asking me that. If work and family had not forced me away from Crosby (in a good way I may add) in 1995, I would be holding my 33rd straight season ticket. If I ever move back to the UK, it would be the first thing I would buy.
So, over to you, Bill; Farhad, let's see what you can do now. Love him or hate him, Blue Bill has kept this club afloat through some desperately difficult times. He has delivered on a promise he made a long time ago, I truly believe that.
Welcome, Farhard Moshiri, to the single most fantastical sports club on the planet. We are ace, friendly, ambitious, frustrated and deluded at times too, but myself and every other Evertonian around the world would like to welcome you. Please, PLEASE take care of our club, and do not turn us into a Man City, Chelsea, Liverpool etc. We care more than their fans do.
170 Posted 27/02/2016 at 19:16:04
171 Posted 27/02/2016 at 19:18:17
172 Posted 27/02/2016 at 19:21:33
173 Posted 27/02/2016 at 19:22:23
It is sheer speculation to say things will change much at Everton... until they change!
174 Posted 27/02/2016 at 19:22:52
175 Posted 27/02/2016 at 19:25:00
I didn't want an Abramohvic type to come in and use us as their 'plaything'. Chelsea and Man City are just soulless clubs with no heritage; I wouldn't want our club to go down that same path. Furthermore, the financial fair play makes that scenario almost impossible now.
176 Posted 27/02/2016 at 19:25:01
177 Posted 27/02/2016 at 19:26:18
The guy has never run a club, he is a majority shareholder who has decided to keep on BK and Bobby E for the time being, so I'm wary until proven wrong.
178 Posted 27/02/2016 at 19:26:53
Please cheer up, we're rich and the cheque is not left in his jeans and gone in the laundry... It's in our account!!!
179 Posted 27/02/2016 at 19:27:26
The money was always going to enrich Bill. That's why we haven't been sold despite 24/7 searching for 10 years. The asking price has not been met.
It has now. My point is, if he invests £1 it is £1 more than Kenwright has invested in 12 years.
Bill is still with us? He is... but only in the cheerleader role.
180 Posted 27/02/2016 at 19:28:17
It's reassuring to know that he's been talking to Kenwright over 18 months that tells me that he sees this as a project rather than a money-making exercise, the signs are that he genuinely wants to do what's in the best interests of the club.
181 Posted 27/02/2016 at 19:30:28
As Phil is basically saying though, proof will be in the pudding.
182 Posted 27/02/2016 at 19:30:42
183 Posted 27/02/2016 at 19:31:16
Not in any way suggesting he will spend in the same way, did the majority shareholder at Chelsea, Man City, Man Utd etc have any experience at running a club?
184 Posted 27/02/2016 at 19:33:04
"Merse" is probably worried that he won't get in Moshiri's hospitality box on the ale...
185 Posted 27/02/2016 at 19:33:57
186 Posted 27/02/2016 at 19:34:01
187 Posted 27/02/2016 at 19:34:22
188 Posted 27/02/2016 at 19:35:07
I think some need a reality check. This IS good news for the club and for us!
190 Posted 27/02/2016 at 19:37:17
191 Posted 27/02/2016 at 19:38:03
192 Posted 27/02/2016 at 19:40:01
The whole operation is a transfer of shares. ALL of the sale value goes to the sellers NOT Everton FC!
All we can hope for is that this guy will be an improvement on BK. Is all.
193 Posted 27/02/2016 at 19:40:35
194 Posted 27/02/2016 at 19:42:40
The money has gone to the people who own (or control) the shares NOT Everton FC!!!
Please keep up!!!
195 Posted 27/02/2016 at 19:42:45
Thank you the post of reasoning! Bill always said we were for sale, but... he was also looking for investment to take the club forward. This he has delivered upon, he... is still at the helm to direct operations, he now has found the investment.
We have the best of both worlds, yet.. we still have some moaning arseholes who aren't happy!
196 Posted 27/02/2016 at 19:43:47
If it's just a transfer of shares and things were to stay the same except in name, I honestly don't envisage BK even wanting stay as token figurehead. We know he's pretty hard faced to criticism but I just don't see him wanting to stick around if we had another situation like we've seen with Robert Earl.
198 Posted 27/02/2016 at 19:46:58
This will allow us to retain our best players, build a new stadium on Walton Hall Park, and invest further in the squad. And keeping BK around will ensure a smooth transition.
It's a beautiful blue day!
199 Posted 27/02/2016 at 19:46:58
I would think, he would have a say as would his friend, in how Arsenal been run, as they are both, I would think, active shareholders (well Mr Moshiri is no longer). Obviously the Board would make decisions but I think it's usual good practice to take in the views of substantial shareholders before making a decision.
If you don't think it's time to celebrate, that's your prerogative... but I think many Evertonians will have mixed feelings of apprehension and elation, some a mixture some with quite strong views already.
I don't think anyone is making a fool of themselves, they are expressing hope, forebodings, or maybe a mixture on the biggest event in the history of EFC since Sir John Moores bought into the club in the 50s.
I for one, will be having a few jars tonight, not so much in celebration but in the hope and view of a much brighter future, than it has been for the last 40 years.
200 Posted 27/02/2016 at 19:47:02
201 Posted 27/02/2016 at 19:48:15
Wonder if he'll put some of that profit back into the club he loves?
202 Posted 27/02/2016 at 19:48:28
Fortress Sports Fund
Forest Gump would improve on that.
203 Posted 27/02/2016 at 19:48:55
None of us has ANY idea about the details. We don't know what Bill's day-to-day involvement will be. Bill has never claimed to be a business man but he does know how Everton and football works, so to just boot him out is not only not in Bill's interests but it's not in the club's or Moshiri's either. But Bill will not stand in the way of progress. He's never been a commercial manager or business man and has never pretended to be. He's an Everton lover and a luvvie.
The amount of shares is irrelevant! As long as he has the most, then he has the most power. You would not buy in at that level without a plan to invest more and hopefully grow the value of your shares by creating new assets.
I actually trust Bill Kenwright's intuition about the right type of investor. I don't trust him with redeveloping Goodison or getting us a new stadium!
204 Posted 27/02/2016 at 19:50:53
We simply do not know what the new man will bring, what the terms of the purchase of the shares involved, or what the future holds. However, we would hope that, if he was simply interested in leaving his money dormant, he would have stayed at Arsenal. So I view his purchase of his shares as a positive step.
205 Posted 27/02/2016 at 19:50:59
The fact that the Yanks have gone may speak volumes. So, perhaps, we should give our new investor a chance before we rush to judgement.
This could be a very good thing for the future of the club we all love.
206 Posted 27/02/2016 at 19:51:28
207 Posted 27/02/2016 at 19:51:50
208 Posted 27/02/2016 at 19:53:53
Don't hold your breath on Bill investing any of his massive profit.
209 Posted 27/02/2016 at 19:54:38
210 Posted 27/02/2016 at 19:55:13
211 Posted 27/02/2016 at 19:56:23
212 Posted 27/02/2016 at 19:56:49
Don't mind BK staying on as a figurehead. That doesn't mean he has retained control.
214 Posted 27/02/2016 at 19:59:27
215 Posted 27/02/2016 at 19:59:43
218 Posted 27/02/2016 at 20:02:49
219 Posted 27/02/2016 at 20:03:16
We finally have someone on board with business acumen to move the club finally forward and more importantly to be run as a corporate business and not some no-mark tuck shop.
Changes will be gradual but there still needs to be a clear out at the club from top to bottom which will take sometime. At least give this man a chance to prove his worth.
220 Posted 27/02/2016 at 20:03:28
This is not a transfer of shares; this is fresh investment from a proven businessmen. That is unless you're telling me Mr Moshiri was already a shareholder and BK has transferred the shares?
Most people complain about BK but he has a wealth of experience as a hard negotiator which will be useful during a transitional period of change. Even if people disagree on that, I fully expect BK not to be the chairman in 2 years time due to ill health anyway so it is not like he is "keeping his claws" in the club forever.....
I'm going to get a beer and watch Frampton beat the mark on points.....
221 Posted 27/02/2016 at 20:04:02
222 Posted 27/02/2016 at 20:04:08
223 Posted 27/02/2016 at 20:06:47
When and only when, we hear from Mr Moshiri that he pledges to invest say £200M into Everton FC for ground development, transfers or whatever (over and above what he's put in Bill's pocket) will I begin to get excited.
What has happened so far is no more earth shattering than when we heard Robert Earl had become a shareholder or indeed if it was him who had relieved Bill of his burden.
I couldn't care a rat's arse who owns the bloody shares. It's what they do when they have a stake in the club that counts.
Hold back the joy is all I ask!
224 Posted 27/02/2016 at 20:07:11
Whichever way you look at it, today's news definitely is a progressive step. Fans should be optimistic!
225 Posted 27/02/2016 at 20:08:30
As far as Moshiri goes, it seems like only yesterday BK was bringing in Trevor Birch (aka the Grim Reaper) to prepare for our extinction. Luckily he didn't stick around long enough to leave us in the financial mess he left everywhere else.
So we have come a long way. Hopefully BK will get a happy ending.
226 Posted 27/02/2016 at 20:09:19
But, apart from that, surely this has to be a good move? The guy has a personal wealth of ٟ.3 billion; I don't think the 2 Yanks had even half that between them.
The FFP rules will limit just how much he can spend although this doesn't cover costs of a new ground. I am more than happy with this news and yes, time will tell, but we have all been crying out for new investment or new owner and we now have one with deep pockets. What's not to like about the deal? He isn't a Vincent Tam or a Hicks and Gillette asset stripper.
So give the guy a chance; some are already critical before the guy has even attended his first match. Even if nothing else, we will see him more than we have seen Earl.
227 Posted 27/02/2016 at 20:09:59
1. No Americans;
2. Somebody who wants to invest his money into a Premier League club;
3. Can't be no mug if Usmanov chooses to work with him;
4. Chose Everton;
5. Bill still the Chairman (only Chairman in Premier League who does not take a wage). You can't question his love for the club and the way it acts in our community The People's Club.
We are better off today than when we were 48 hours ago. Let's give the man a chance and give him at least a year to see if any change before we complain.
228 Posted 27/02/2016 at 20:10:44
229 Posted 27/02/2016 at 20:10:52
230 Posted 27/02/2016 at 20:11:01
Know nothing about this guy except for the fact that he is clearly a shrewd businessman and that alone has to be very meaningful step forwards!!
I'm guessing it will be this Summer before we have much idea as to how this will change our modus operandi.
231 Posted 27/02/2016 at 20:12:18
Let's hope Mr Moshiri can blow them all away... or is the fans' blue-sky dreaming doomed to be a dream forever?
232 Posted 27/02/2016 at 20:13:01
233 Posted 27/02/2016 at 20:13:39
Either he thinks we are going to be a force and that it will upset the top 4 gravy train. (ps: How many more years of poor Champions League performances before England loses a spot?)
Or he knows something about the man and thinks we're in for a long ride.
My heart wants to tell me that BK is a good judge of character but I'm not so sure.
Either way, it's out of our standard fans control. We just gotta sit back and see where it takes us. Hopefully the fanfare and potential investment will settle a few of our more valuable first team players.
234 Posted 27/02/2016 at 20:14:18
Dismayed isn't the word.
When are we going to finally see the back of this attention-seeking limelight hogger?
Let's hope he's slowly moved to one side and better times lie ahead for our beloved club.
235 Posted 27/02/2016 at 20:14:23
236 Posted 27/02/2016 at 20:14:28
237 Posted 27/02/2016 at 20:17:59
Let's give him a chance to settle in as I doubt if we will see any significant changes until after the end of this season This "may or may" not be the change that we were hoping for but, as a lot of people have been saying, we have stagnated with our present chairman and board for a number of years.
Everton FC are a business and, even if he was a shareholder with Arsenal, his background shows he is a successful businessman.
238 Posted 27/02/2016 at 20:18:02
Surely this self-appointed greatest Evertonian Kenwright won't be able to write the club a cheque from his new found wealth quickly enough, will he?
239 Posted 27/02/2016 at 20:19:19
And back in 1999, the price paid by the TBH consortium was £857 not £1,100.
240 Posted 27/02/2016 at 20:19:57
241 Posted 27/02/2016 at 20:20:02
243 Posted 27/02/2016 at 20:22:54
It would in any other world... but what do I know? I cannot manage £100!
244 Posted 27/02/2016 at 20:26:53
There is a suggestion in the Mirror just now that the 49.9% shareholding has been purchased for 㿊 million or around per share. There is promised investment because of the price paid. That price does seem realistic and is not much more than single shares have been changing hands for recently.
245 Posted 27/02/2016 at 20:27:30
If this is indeed the case with the £30 million outlay being the case, you can say that Kenwright is not taking much at all because the true value of his shares is being ploughed back into the club. Shock?
246 Posted 27/02/2016 at 20:27:32
I'm very excited about this, and can't wait to see his vision for the club going forward.
248 Posted 27/02/2016 at 20:34:55
249 Posted 27/02/2016 at 20:39:13
We shall see.
250 Posted 27/02/2016 at 20:39:34
251 Posted 27/02/2016 at 20:41:09
Having so much, he can't exactly be stupid, so I'd say he knows what he's doing by allowing Bill to stay on in a position that I for one think he thoroughly deserves.
252 Posted 27/02/2016 at 20:41:32
Are we really to believe that hard-nosed shadow director Green has suddenly turned benevolent?
This deal sounds more and more shady by the line.
253 Posted 27/02/2016 at 20:41:43
Interestingly the way it reads. It sounds like Woods is the one who's completely sold-up and we're still lumbered with Robert Earl.
This story is encouraging though, because the stadium finally looks like it will be reality. Onwards and upwards :)
254 Posted 27/02/2016 at 20:42:51
257 Posted 27/02/2016 at 20:53:09
"And sources close to the chairman suggest the plan now is for him to work with Moshiri to deliver a new stadium, and then look to sell the club, either to Moshiri himself, or to third party investors like the Chinese consortiums who retain an interest.
If and when a new stadium is built, then Everton WOULD be worth the £200m figure that has been bandied about, and quite possibly much more, which is why Moshiri has bought into the club without buying control."
My simple mind had it thus:
Uber rich bloke buys into club......he loves club.......spends lots on players.......club wins stuff......We all live happily ever after.
258 Posted 27/02/2016 at 20:58:47
Look at teams like Leeds, Blackburn, Aston Villa,
We haven't been relegated maybe through luck or BK doing a good job.
If Mr Moshiri has come in, he is a good business man got knowledge of the PL has a British passport so not completely foreign. He will probably want to make is more profitable which I assume would be paying of the mortgage on GP and paying off our exsisting debts and buying our training ground so we not shelling out a lot of our gross income to 3rd parties, making his stake in the club more profitable in the process. Can only be good for Us IMO. Onwards and upwards + the red shite are already getting scared lol
259 Posted 27/02/2016 at 20:59:37
Would you, you're effectively taking all the risks when the other 50.1% of shareholders profit as much as you while sitting their hands.
It seem to me that the club's swopped shareholders, Mr Moshiri will need a 80 to 100% of the shares before he would consider sticking serious money into the club.
I could be wrong but that's the way it looks to me!
260 Posted 27/02/2016 at 21:03:39
261 Posted 27/02/2016 at 21:10:43
Unless the new shareholder decides to invest heavily, which he may do, we are in much the same place. This is a great deal for Kenwright and his cronies; the day they have held out for 24/7.
Now if Blue Bill were to plough, say, half his profit into the club then he might be seen as a great Evertonian rather than a great businessman.
262 Posted 27/02/2016 at 21:13:14
As I can't abide Maddocks for being creeping, bloody r/s supporter that he is. I might be a bit biased by saying he's got his bloody report wrong. As far as shareholdings go, I'll go with the Echo version and have a couple of jars tonight in the vision of a bright Everton future.
I think it will be well discussed about the priorities that will be drawn up to take this club on the road back to top.
263 Posted 27/02/2016 at 21:13:54
Maybe we'll have a blast of clarity over the coming days.
264 Posted 27/02/2016 at 21:15:14
266 Posted 27/02/2016 at 21:21:38
Good news, bad news, the best-ever news, what-we-all-feared news, none of us know. We'll see.
Be an interesting next 2-3 years.
Have to add, 49.9% is a damn peculiar number.
267 Posted 27/02/2016 at 21:28:15
I know there are a lot of fans out there who are pleased about this and are excited at the prospect of a better future.
268 Posted 27/02/2016 at 21:31:29
He might give the club the kick up the arse it needs.
269 Posted 27/02/2016 at 21:31:41
270 Posted 27/02/2016 at 21:33:26
Kings Dock money is ringfenced.
Chris Samuelson and the money will be in the bank in the morning.
Kirkby will be free.
Banning of AGMs.
Walton Hall Park.
Shareholders' 41 unanswered questions.
271 Posted 27/02/2016 at 21:34:20
272 Posted 27/02/2016 at 21:44:08
274 Posted 27/02/2016 at 21:52:27
275 Posted 27/02/2016 at 21:55:09
For those who were hoping for a takeover without Bill involved, I would point them in the direction of many a disastrous such step change with other clubs.
This is absolutely the best of both worlds, investment with security. If Bill happens to get a bob or two in the process, then good luck to him and thank you.
276 Posted 27/02/2016 at 22:04:50
It really isn't a problem for someone to invest with a 49.9% stake. To stop him, it would take every other shareholder to vote against him. Unlikely. How you came up with the 80 to 100% figure is simply baffling as he would only need something over 50% to be certain.
As for your assertion that the other shareholders would profit as much as he would, how could they, when he would take 49.9% of the profit?
277 Posted 27/02/2016 at 22:06:57
278 Posted 27/02/2016 at 22:08:27
279 Posted 27/02/2016 at 22:09:00
BK is still an influence on the everyday running of the club... That's why!
The man is a known liar, romancer and charlatan. I bet he insists that any new stadium has a Boys Pen built into it so he can sit there and feed into his delusional thought process.
280 Posted 27/02/2016 at 22:09:46
281 Posted 27/02/2016 at 22:12:01
However, I think there is a fresh wind blowing the crap away now. Our new major shareholder has bags of cash, not as much as the owner of Man City and maybe a few other clubs but he's certainly got enough not to worry about working for a living.
Mr Moshiri has, in my view, has spent 10 years or so as a shareholder in a excellently run, successful club, has had a successful business career and is extremely rich. I think he is more likely to want to prove himself as a successful club owner for the reputation, rather than making a killing. So I think he will want to prove he can turn this snoring giant into a top class club, rather than to make a packet.
I see him keeping Kenwright as a useful front man who has got a great deal of knowledge on transfer negotiations, the workings of the club and is popular with a lot of supporters and with the players. Kenwright getting himself on the telly and in the press and maybe Mr Moshiri needs him for this purpose as well.
I have been cynical of Kenwright but now, I don't think he is in charge. Until and if, it is proven that the new major shareholder is no different than Earl, Green and Kenwright, then I'll welcome him as a breath of fresh air.
All in all, I'm much more optimistic about Everton's future than I was this morning.
282 Posted 27/02/2016 at 22:12:16
So what if he does? It would still be a new stadium, wouldn't it?
283 Posted 27/02/2016 at 22:13:54
Welcome to Everton, Mr Moshiri... let's see what you're all about.
284 Posted 27/02/2016 at 22:15:47
If the new stadium is built and we see some improvement on the field who's not to say Moshiri's Russian mate over at Arsenal might come in and buy the remaining shares?! He doesn't seem like he's going to dislodge the American that has the majority of shares there.
It's total conjecture at this point but at least shows that we can see a path for the dream becoming a reality now.
285 Posted 27/02/2016 at 22:18:44
If true, I too will eat humble pie... Then I'll eat my hat!
287 Posted 27/02/2016 at 22:23:15
288 Posted 27/02/2016 at 22:35:01
Bill's a sly old dog but what happens if the Yanks sue him for breach of contract if they feel he was leading them on in order to get a better deal?
As for Merson muttering the word "worrying", I've been told he's still looking for a dictionary to find the meaning. What I do know for a fact is that Merson is not a Kroenke fan.
289 Posted 27/02/2016 at 22:42:49
The man is a billionaire that in my book says that he is no slouch and most probably knows a thing or two about business something we were accusing the previous board of knowing fuck all about.
Which ever way you look at it, there has been a change in the boardroom and for the better Earl for one has gone and although Bill is still chairman (good for him), he will not be calling the shots.
This is a major turning point for our beloved Everton; it will be a time of change a time to really sit at the top table and compete on that level playing field we all craved for.
I can't wait to see how our future unfolds and wish I was 25 years younger to enjoy the ride. After all we have suffered enough through lack of investment now is OUR time.
290 Posted 27/02/2016 at 22:45:52
IMHO there is a lot to like in this deal.
1) Avoid being bought by an American consortium. It would probably have been a leveraged buyout with long-term hidden debt. We got rid of one of those in this deal! Bye Bye, Earl.
2) Single, wealthy investor has taken the vast majority holding in the club with no practical opposition.
3) Keeps a respected chairman in place to ensure a smooth transition in the running of the club and it's business. Transitions and acquisition are tricky and often lead to instability. Who wants a Man City plastic dictator style club anyway? Not me.
4) Investor has previous experience/interest in football and football business. Arsenal are a well run club and if we end up being run in a smiliar way, then I'm all for it.
5) Too much being made of the Iranian bit. He made Britain his home, let's help him make Goodison Park his home.
Onwards and Upwards.
291 Posted 27/02/2016 at 22:47:36
292 Posted 27/02/2016 at 22:56:03
Why would you do all the spending for someone else's profit? ....and wasn't it said that Kenwright wanted to sell his shares because he is seriously ill?
293 Posted 27/02/2016 at 22:56:25
New owner has had plenty of time to observe Martinez from his previous vantage point. I am sure he already has some opinion. Unless he already has a manager in mind, I'd expect him to give Roberto at least the rest of the season, or more likely until the end of the year. The rest of this transition seems to have been carefully thought through, so I would expect same for manager.
Real litmus test would appear to be the summer window and whether we keep 'your young stars', relieve ourselves of 'dead wood' and add 3-5 positive signings to bolster our current team.
294 Posted 27/02/2016 at 22:57:12
It's a strange thing about the modern world that reflex optimism is thought to be morally superior in some undefined way.
296 Posted 27/02/2016 at 23:00:22
Oh I know.... Well done, Lazarus.
297 Posted 27/02/2016 at 23:01:22
Not sure why you felt the need to correct or point out my choice of optimism. If that's the way I chose to express myself, then that's my business.
As for modern world, been a fan for more than 40 years. Not so modern anymore.
There is no automatic celebration here, jut an expressed hope for the future of our club.
298 Posted 27/02/2016 at 23:07:41
If, as rumoured, Moshiri has 49.9%, then for all practical purposes he will be in control. And there might be other "control" factors as part of a shareholders agreement.
As Phil Walling says, all he's done with his money so far is to set up a transfer of ownership of shares (from whom we still need to find out).
Paying for the shares is not in itself investment (over above share purchase) in the club in the sense of buying players of paying for a new / redeveloped stadium. That might come, but to what level we can only guess - that's to be seen.
The guy is a businessman, so is Bill (in a different, theatrical, industry). He might bring greater business acumen than the present board. That's to be seen.
So, I'm not being negative. I'll wait to see further details of the deal, should they emerge; and wait to see what this guy does for the club.
Bill might use some of the proceeds to invest in players / stadium.
299 Posted 27/02/2016 at 23:08:41
We all have hope for the future of the club.
300 Posted 27/02/2016 at 23:10:17
How can it be, in reality, that Mr Moshiri bless him doesn't have total "control" with 49.9%? For him to be out-voted in a simple majority vote it would require virtually every single one of thousands of one-share type shareholders to side with the remaining "significant" shareholders and the mechanics of that happening are just crazy.....
Or is it that the company that is EFC is governed under rules that state you must always have more than 50% (even 75%) to win a vote at the boardroom table? I may be being thick but even if those remaining significant shareholders all vote together that still leaves 15%-18% in the hands of small individual shareholders who might actually hold the balance of power in a big fall out at board level under these new arrangements?
I'm sure I'm missing something very obvious but it seems Mr Moshiri is the new boss, isn't he?
301 Posted 27/02/2016 at 23:11:43
Michael watch your step mate you could be on dangerous ground there. I would think the 'M' words is the last thing to start discussing now with our new Iranian incumbent!!
Know what I mean.. wink wink....
302 Posted 27/02/2016 at 23:12:22
303 Posted 27/02/2016 at 23:14:24
304 Posted 27/02/2016 at 23:16:49
All good. Probably just being the very next post. We all want the best and this is definitely a big step that will bring a lot of different opinions out.
305 Posted 27/02/2016 at 23:21:21
306 Posted 27/02/2016 at 23:28:58
I was lucky enough to get a tour of the Old Lady in the summer. The fellow who was kind enough to show me and my family around was very clear about how Bill conducted his matchday hospitality. It seems that Everton are very much respected by visiting club chairman etc, especially their maintenance of some semblance of old school decency. If that's true, then although it took a long time, maybe it did yield a proper plan for secession.
I hope the club continues to build on its principles whilst improving its ability to invest in the future.
307 Posted 27/02/2016 at 23:31:22
"A business that will need new funding may be crucially dependent on a minority investor regardless of the percentage of ordinary shares initially held. An astute investor may also have loaned money (rather than just invested share capital) and that loan may have become repayable with the result that the investor is in a very strong position commercially: he could require the winding-up of the company so that his loan can be repaid."
Which means that with only a 49.9% holding, our new investor cannot force a winding up order on the club to pay back any loans he may have secured to invest in the club. A belt and braces policy to protect the club if things turn sour maybe?
308 Posted 27/02/2016 at 23:32:11
It does seem that some of the rather muddled (muddied?) Boardroom structure is becoming a little more straightforward, which I believe is much better for the club.
309 Posted 27/02/2016 at 23:35:23
310 Posted 27/02/2016 at 23:37:09
312 Posted 27/02/2016 at 23:40:02
I suspect it means Kenwright will be focused / restricted to running the day-to-day football side of things linking closely with Roberto. I'm okay with that in principle because I think Bill generally does okay transfer-wise and values greatly youth development etc. If he'd have had money, he would have done much better; maybe now he will.
Moshiri will lead on the business, commercial, stadium side of things and I think if that happens it's great news.
There must be genuine investment from this deal, surely. For instance, in terms of stadium plans we should now have the wherewithal to put enough into a project to make it happen? In terms of squad investment, I don't see a Man City style explosion of player acquisitions, nothing like it. But I think we will now be able to compete with all bar Man City, Chelsea, Man Utd and won't get priced out of deals by Stoke City. It would for instance have probably been enough to seal a deal in January for Yarmolenko by paying a wee bit over the odds. Or in the summer the new money added to TV cash should see volume added to the word quality when before we always had to make hard choices of one expensive top-notch buy versus three decent but less starry ones......
Mr Moshiri's money should help us persuade our best players to stay, though I'm not convinced of this as there are other factors like another failure in the Premier League coming up.
His money will add even more value to our superb Academy development and I'm praying he will be prepared to get us out of some of the dire commercial mess we are in.
Overall, Mr Moshiri seems to offer a professional, respected presence with enough money to make a difference... not a Saudi Prince level of difference but at our club it will feel like it... and I sense he fully understands the game here and things like tradition will earn his respect, meaning he won't try to change our name to Liverpool City and play in red because the media like it more or close down Everton in the Community because it's a distraction from core business etc.
I'm made up, I am, I somehow just know this is a better way than the USA way. But it will leave quite a few here and elsewhere absolutely gutted as their genuine hatred for Kenwright and Elstone will I suspect not allow them to move on... It's the case that the Board Out campaigners and various Blue Unions etc often talk of moving forward but their hatred of the current regime is all about the past and many will not see beyond that and forgive those sins...
Truth is these groups or individuals are mostly some of the best of us, amazing supporters who like I used to do until relatively recently, spend their lives wandering the country getting behind the team and eating, sleeping, breathing, all that is Everton FC.
Mr Moshiri would exceed even my positive expectations if he can find a way to bring all the "anti" groups and individuals to a position of giving him a chance in a set up that they, the campaigners, will be suspicious of.
This is a good day for Everton and maybe, just maybe, we are on the road back to where we belong, which is at the top. End of.
313 Posted 27/02/2016 at 23:42:52
Our prince of Persia has spent £30M with £170M set aside for new stadium. He has it seems, a fellow investor in the wings pursuing existing shares. Strap yourself in guys, we ain't seen nothing yet!
315 Posted 27/02/2016 at 23:49:23
Hear, hear. Seems like a valuable and pragmatic transaction on all fronts.
I wish we had kept Finch Farm on the books and not entered into the reverse deal with the Liverpool City Council. The building of the facility seemed like a real commitment to youth development at Everton FC.
I hope the club can retain a glance of real youth development and progression as well as develop the funds to compete meaningfully in the transfer market. Retaining the sub 25-year-old spine of our current team should be a priority in the summer. Hopefully now all at the club will feel that there is a stable platform from which success can be built.
316 Posted 27/02/2016 at 00:09:18
317 Posted 27/02/2016 at 00:21:39
This seems a much better proposition, and I really believe there is more to come, as yet unseen players waiting in the wings. I know, it's the hope that kills you.
But if a top class manager was to be appointed, well... that could just be the trigger that keeps our young stars here and moves us on.
318 Posted 28/02/2016 at 00:24:57
An economist would point out that assets are real; money merely an artificial construct to make assets sellable.
319 Posted 28/02/2016 at 00:27:51
I'm hopeful with the new owner. I suspect Usmanov may take over or come on board if he can't get control at Arsenal.
320 Posted 28/02/2016 at 00:28:55
There is also talk of Usmanov being behind the deal or at some point in the future becoming a shareholder himself. Based it seems on his relationship with Moshiri and their unsuccessful attempts at gaining control at Arsenal. The ramifications are intriguing to say the least.
At this point, it's all speculation so we just have to wait and see.
321 Posted 27/02/2016 at 00:31:47
322 Posted 28/02/2016 at 00:35:30
323 Posted 28/02/2016 at 01:17:00
324 Posted 28/02/2016 at 01:20:51
325 Posted 28/02/2016 at 01:22:33
But I am quite happy with the news and it doesn't bother me at all if Bill Kenwright stays on as a figurehead. I can't see anyone spending the sort of money being talked about and not having operational control and, anyway, 49,9% will give him a majority stake in practical terms, as there are many small shareholders.
326 Posted 28/02/2016 at 01:32:02
327 Posted 28/02/2016 at 01:34:24
328 Posted 28/02/2016 at 01:35:39
You can please some of the people some of the time .... except for a percentage of miserable Twebbers who type the same bloody thing ad nauseum.
If the big JC Himself was wheeled out as our new Saviour they'd have stoned Him before he got to the microphone.
I'm right you're all wrong ..... fingers into ear drums and hum very loudly until repeating what I've already said ten times before.
A few hours ago we were a club going nowhere we await to see the actual details but now we are a club that has the real chance of jumping forward.
And Earl appears to have gone. Hallelujah.
329 Posted 28/02/2016 at 01:37:32
Whilst it's a very emotive scene Mark evokes (@278) it's still, in the main, just a narrative of his own making ("I suspect", "I think", "there must be", "I sense"). From the brief snippet of information we've been given, there's no indication at all how all the various players are going to fall into place or how this new 'partnership' is planning to proceed.
Citing caution and not getting prematurely carried away doesn't constitute needless 'negativity' or mark someone out as an 'arl misery arse. It seems a pretty reasonable reaction to me until a clear picture emerges of what this 'promise of investment' actually entails.
There's already a couple of daft headlines running across the 'news' ticker on this very site basically amounting to 'Everton have struck it rich and should probably spunk mega millions on [insert random player names here] without wasting even a second to think about it'. All they're missing is the Beverley Hillbillies theme tune playing in the background.
Let's not set ourselves up for dissappointment by jumping the gun and getting ahead of ourselves is all some are saying. Maybe wait until we find out a few more concrete facts before careening through the forest like Kevin Bacon pulling off celebratory 'Footloose' moves?
Doesn't mean the more wary buggers amongst us are not fervently hoping for the best case scenario like every other blue right now.
330 Posted 28/02/2016 at 01:51:08
Let's give it a year, see where it (us) went, and then return to these outlets to tell our new "owner/s" what we think, and what we'll do.
In the meantime, thanks Mr Moshiri.
331 Posted 28/02/2016 at 01:59:49
I've read all the news reports and analysis. I've also read every comment in this thread, and I've think I've got it worked out...
This could be the best thing that's ever happened to Everton; it could be the worst thing that's ever happened to Everton; or it may be of little consequence at all.
All three seem to be equally likely given the facts we have at the moment. All I know is that I feel sick with anticipation.
When does the transfer window open again???
332 Posted 28/02/2016 at 02:05:52
333 Posted 28/02/2016 at 02:35:32
334 Posted 28/02/2016 at 02:39:01
Kenwright: "Right Farhad, now this is what we call a restricted view seat. You can't see much but that's the charm of it, see? Here, have some Chang and a pie. You won't get this kind of treatment in the kop, that's for sure. That's what makes us special. Great, isn't it?"
335 Posted 28/02/2016 at 03:12:05
Of course it relates to Arsenal and may not be applicable to how he plans to run Everton. Nevertheless, it raises some interesting points.
336 Posted 28/02/2016 at 03:19:00
337 Posted 28/02/2016 at 03:23:55
Good news, the only way is up.
338 Posted 28/02/2016 at 03:47:19
A transition will do me as we see how serious the investment is in the squad and the future of our stadium. The TV money has evened out the Premier League as he has said. I wouldn't then expect too much but here's hoping.
He can start by signing Lukaku, Besic and Barkley to new contracts!! And changing the pies, of course.
339 Posted 28/02/2016 at 04:57:14
I don't like Kenwright and Earl profiting so much given they have put nothing into the club since buying the shares. But his will purely be an ambassadorial role which he is actually quite good at.
My only beef with this deal as it brings us no closer to financing a new stadium at face value, whereas the US bidders had a track record on this. I suppose they could still bid for 51% of the club, in which case Mr Kenrick's shares are going up even more in value!
340 Posted 28/02/2016 at 05:04:14
341 Posted 28/02/2016 at 05:43:03
You've looked after us well.
342 Posted 28/02/2016 at 06:29:50
Top 5 Shareholders:
Lord Grantchester 2733
Peter Johnson 1935
Moshiri purchases 17465 shares from BK, Earl and Woods.
The new board is Moshiri, BK and Woods. (The 3 are now the biggest shareholders)
Earl has sold all his shares.
42,000,000 Earl for 8146 shares
This puts the sale price for the share @ 5,156 £
BK and Woods have sold 9,319 shares together. It's not clear the breakdown between the 2 but they both must still have more than 2,733 shares to remain in the top 3.
Based on these factors and extrapolating:
BK sold 5,432 for 28,000,000
Woods sold 3,887 for 20,000,000
Which puts the cash transfer at 90,000,000 with a commitment of 110,000,000 towards investment into the club. (Not sure if that's a debt that converts into shares)
Either way hats off to BK and the board. They were patient and if the above is true proves they put the club's long term future ahead of their personal gain.
Assumed top 3 shareholders now:
Moshiri - 17,465
Kenwright - 3,612(10.3%)
Woods - 2,735 (7.8%)
Along with a few others on here I still think the final step will be for Usmanov to take over with Moshiri as a minority shareholder.
Paul Merson used the word 'worrying' for one reason:
Stan Kroenke: Net worth 6.3 Billion
Alisher Usmanov: Net worth 13.6 Billion
Hopefully Kroenke holds his position and doesn't sell. Although moving his NFL team from St. Louis to LA might factor into his decision.
It will be an interesting summer for sure. I have a feeling Martinez will start practising set pieces from now on. I think we will all see a more pragmatic manager.
RM: 'Philosophy? What Philosophy? My only philosophy Mr. Moshiri is to win and keep clean sheets. Oh and please sell Tim Howard. Kenwright forced me to start him the last 12 months.'
343 Posted 28/02/2016 at 07:06:46
Before, you said it was £175M... which one should we believe? ... what made you change your mind?
I need to know how much I can expect from the Moshman for my shares!
344 Posted 28/02/2016 at 07:16:57
Do we know for sure (and how) how much Moshiri paid per share?
Do we know for sure (and how) how many shares each person sold and now retains?
Do we know any other solid facts?
345 Posted 28/02/2016 at 07:21:56
The three things I find intriguing about the events of the past week are:
Mr Usmanov's representative denies he is going to buy Everton.
Mr Moshiri sells his stake in "Red & White" to Mr Usmanov thereby relinquishing any commercial interest in Arsenal.
Mr Moshiri spends the money he has received from Mr Usmanov on a stake in a rival football club - Everton.
You could make a movie out of this. It appears to me Mr Usmanov is a very determined man.
The reason I am feeling optimistic about this is that I believe at long last we will have a director on the board, with a high degree of business acumen who has bought in to create a bigger and better Everton.
That would require a new stadium or a rejuvenated Goodison Park and keeping us in the Premier League.
The prize for Mr Moshiri if he delivers, is that his investment will increase in value dramatically in the next 3 or 4 years.
346 Posted 28/02/2016 at 07:22:45
This morning, someone on Twitter was quoting the £42 million for Earl's shares which ties up with Sky Sports reports of the £175 million valuation for all shares and the Echo's report on BK having received £30 million from the deal.
I'd hold on to your shares though they could be worth 㾶,000+ very soon....
347 Posted 28/02/2016 at 07:27:40
348 Posted 28/02/2016 at 07:30:47
Moshiri now owns 17,465 shares out of 35,000.
Those shares were bought from BK, Earl & Woods who owned a combined 23,812 shares.
Earl has cashed out and BK and Woods between them now have 6,347 shares.
Everything else is pure speculation until the Premier League approves the sale.
349 Posted 28/02/2016 at 07:53:05
350 Posted 28/02/2016 at 08:29:42
351 Posted 28/02/2016 at 08:30:28
Step 2 will be some form of open offer/placing which will enable Moshiri to increase his holding in return the club will receive additional investment. I expect this is how it will pan out and Moshiri will increase his overall interest. Look out for share dilution if you're an existing holder.
Alternatively, the option is always open for existing holders to sell to him.
A really good deal keeping options open for existing holders without constraining Moshiri and enabling him to take full control over time. Really well done, Bill, you have demonstrated true financial astuteness and should be congratulated. Those who thought Bill wasn't up to it should now eat their words.
352 Posted 28/02/2016 at 08:35:08
In which case, the facts currently (reported by EFC; and "on the balance of probability", as it was reported by the Echo) are that Moshiri acquired 49.9%, including all Earl's shares.
Do we have any other hard facts or "on the balance of probability".
353 Posted 28/02/2016 at 08:37:00
He now needs to create the environment where he (and possibly others) are happy to invest new equity into our club, which we can use to buy players, build a new stadium etc. That's when a new open offer or placing will no doubt come into action.
354 Posted 28/02/2016 at 08:45:39
355 Posted 28/02/2016 at 08:52:11
356 Posted 28/02/2016 at 08:54:21
However, what I will say is that I think this is a fantastic deal for Everton Football club. So I'll eat a bacon butty and pretend it's my hat!
I always believed that Kenwright would not relinquish control of the club and consequently, the club has suffered for his actions.
I think though, that this man who has bought so many shares, leaves Kenwright to play with the train set, but now, the train set doesn't belong to him.
He has been good at dealing in the transfer market, he's chosen two decent managers and he knows the workings of the club inside out.
I know it's only speculation (as some seem to find so objectionable) but I think that Mr Moshiri has been willing to see Kenwright as the "public face" of Everton Footbal Club, as it will be of benefit to the Club, To him, and to us.
In the cold light of day, I feel this morning, like I did as the news broke yesterday, that this is the start of an exciting and historic new chapter for Everton FC.
Wrong? Of course I could be, as I'm speculating (as we all are when we look to the future) but to me, the open letter that Mr Moshiri co signed, gives an indication of the man.
How it came about, who knows. My view is that it was a combination of factors that came together at the right time for us.
Maybe in the future I'll be back to thinking there's a curse on our club. But today I feel chuffed to bits that we have someone in charge who epitomises Dignity.
That'll do for me, cocker.
357 Posted 28/02/2016 at 08:58:29
I don't expect Moshiri bought 49.9% to stick in his pension fund and forget about it. Exciting times ahead, let's see how it unfolds, but I'm pretty sure we'll end up with significant new funds by the summer.
358 Posted 28/02/2016 at 09:07:21
359 Posted 28/02/2016 at 09:17:21
360 Posted 28/02/2016 at 09:20:52
Ahh well... back to bed for me!!!
361 Posted 28/02/2016 at 09:44:55
There may be a precedent for this deal in the takeover of Spurs by Alan Sugar & Terry Venables in 1991. Successful businessman buying into a traditionally big English football club allied to an incumbent member of the club's senior management. Interestingly in this case, Sugar gained total control of the club by getting the board to agree to a new shares issue which he agreed to underwrite.
According to Venables autobiography, Sugar was aware that he (Venables), could not afford to buy additional shares whereas Sugar obviously was & added to his shareholding, effectively taking total control of the club & reducing Venables's share percentage. So, if Moshiri wanted to take total control of Everton, could this be a strategy to do so if the relationship with Kenwright turns sour?
362 Posted 28/02/2016 at 10:04:32
363 Posted 28/02/2016 at 10:23:03
I favour the notion expressed by others that what will have happened is that a much smaller lump of cash will have come in to pay off Earl, and possibly some cash up front for the rest, accompanied by an agreement to release further funds for specific projects and purposes. On the one hand, these arrangements are more complex, so can have the prospect of leading to more disputes between shareholders further down the road, but on the other hand, there are more checks and balances built into the shareholding to prevent the excesses of a domineering individual ruining the 'business'.
On balance, I favour this to a total changing of the guard and feel Evertonians would see it the same way.
364 Posted 28/02/2016 at 11:21:28
All I've seen about Mr U is speculation (and very intriguing it is) on TW.
365 Posted 28/02/2016 at 11:45:03
The style of football that has seen us become a pushover?
The style of football that has seen us slide down the league?
The style of football that has seen us win just 8 league games all season?
The style of football that could only win 12 league games last season?
The style of football that has seen Goodison become devoid of any atmosphere?
Hmmmm... let's ponder that one, shall we....
366 Posted 28/02/2016 at 12:34:54
People go on about them not being fans, or not being local, or Liverpool, as a city, can't compete with the bright lights of London etc..... These fellas don't worry about that. They aren't going to live in the city, they aren't going to sit on Gwladys Street. They will want a successful team who can guarantee them a steady revenue stream.
As long as Elstone is fired, I'm okay, now, with this.
367 Posted 28/02/2016 at 12:37:46
368 Posted 28/02/2016 at 12:48:56
Para 1 is what I hope for.
Helen - spot on.
People have every right to be sceptical about Mr M and his motives - and every right to want to know more about his plans for our club.
But ..... can the benefit of the doubt not be given to him for now .... can we not be allowed to be positive for a while .... feel the sun on our backs and start to dream again.
Not bloody likely with some. Well .... bollocks to your pessimism ..... I am positive, I am happy and I believe. COYB. Ã°Å¸Ëœâ‚¬
369 Posted 28/02/2016 at 13:03:37
And I guess at least of few of those now rejoicing over this ownership change (without knowing little more than it's 49.9% and it's an Iranian born billionaire) have also been highly critical of Bill's motives and business acumen in the past. So, do we trust Bill's motives and judgement on this one? I have no idea.
370 Posted 28/02/2016 at 13:11:25
Well, he has eventually found this billionaire backer and I think as a club we should be optimistic and imagine a future where we not only break into the top four but fight for the league title.
371 Posted 28/02/2016 at 13:20:30
Also, I don't see Bill being there as some wonderful safeguard. In my view he has not been much of a custodian for many years. This deal seems to bring him all he has dreamed of money, chairmanship and, wrongly in my view, the gratitude of many Evertonians.
Shares have changed hands and, as yet, that is all. Why on earth should those who are not yet jumping with joy be disparaged?
372 Posted 28/02/2016 at 14:02:02
373 Posted 28/02/2016 at 14:22:40
374 Posted 28/02/2016 at 14:48:33
With Moshiri previously having a stake at Arsenal, he has been a part of a club that has ambition and does not sell players just for profit. Arsenal had a project to grow their club by building a stadium and he has seen first-hand the results of that effort. He also appears to come from a much more stable investment background than the previously discussed potential investors.
375 Posted 28/02/2016 at 14:53:18
I'll get my coat.
376 Posted 28/02/2016 at 14:55:42
377 Posted 28/02/2016 at 15:00:28
Well said; as far as I see it, not one penny has been put in to Everton for a new stadium or to buy players. All that's happened is change of shares and a large swelling of someone's bank balance. Only if the club is sold and it hasn't been will things happen and, so far, nothing has changed.
We are all wanting the best for our club; people saying we are not being positive... well we are used to being suspicious with Kenwright and his cronies; I'm am not doing high fives yet.
I don't trust Kenwright one bit, and this smells fishy to me.
378 Posted 28/02/2016 at 15:01:29
379 Posted 28/02/2016 at 15:08:47
He clearly has the money to do that and would be overseeing a club that has massive earning potential once we're setup properly. I'm really looking forward to seeing how this all plays out over the next few years. Exciting times.
380 Posted 28/02/2016 at 15:14:21
381 Posted 28/02/2016 at 15:14:22
382 Posted 28/02/2016 at 15:16:06
383 Posted 28/02/2016 at 15:17:47
384 Posted 28/02/2016 at 15:18:30
My point being, if Martinez and his brand of football are still here start of next season, will you still be happy with that? In fact, if Martinez is still here at the end of the season, is that cause for being positive?
385 Posted 28/02/2016 at 15:20:43
386 Posted 28/02/2016 at 15:23:16
387 Posted 28/02/2016 at 15:34:13
That's not going to happen. Stage 2 is for Moshiri (possibly with others) to increase his equity holding (that means investing more) via some form of open offer or placing (generating new money for our club this time). Once his holding is nearer 100% he'll possibly invest further money as then only he stands to gain. He ain't going to be a charity to the rest of the current holders.
There's cynicism for cynicism's sake being touted on this thread at the moment. If you don't believe this is frankly brilliant news, then please make a case rather than just bringing out the 'can't trust Bill' line, which frankly is not only boring but now looks completely fucking stupid.
388 Posted 28/02/2016 at 16:01:17
If you want to praise your favourite chairman to the Heavens then you go right ahead, it's your right to do that... as it's my "Fucking right" to say my opinion; is that OK with you?
For fuck's sake, why can't people be allowed to give comments on here without having to wait for moronic replies?
389 Posted 28/02/2016 at 16:14:36
390 Posted 28/02/2016 at 16:25:59
"As a top Club we should, at the very least, match if not beat the offers that other clubs make to try and lure our very best players away, and also provide a more compelling vision of the future. You can try and put a good face on a bad game for as long as you want, pontificating about the merits of this model, but it will not hide the obvious fact that it just does not allow our great manager to fully realize his managerial talent and deliver success for the fans who are paying the highest prices in the land. It appears that a place in the Champions League will be the pinnacle of our ambition again next season. Unfortunately, in the future we may see this ambition lowered further. It doesn't help to turn a blind eye to the reality of the situation and keep thinking of ourselves as being in the same league as Real Madrid, Chelsea, Manchester City and Barcelona. To have a fighting chance of success, which means winning trophies, we need to match them in every aspect, including, if not first and foremost, financial.
So what is Red & White's vision for the Club? It is simple. A debt free Club, with a big enough war chest to buy top talent players who can hit the ground running and who can complement the Club's long tradition of developing young players and homegrown talent. Together they can help the Club win the most prestigious trophies - because it is the trophies which are the crowning achievement for everybody at the Club. The trophies are also key to the commercial success of the Club - they increase the value of the players, the value of the brand, attract the best sponsors and maximize the value of our commercial contracts which should in turn mean that the Club does not have to squeeze any more income from hard pressed fans. We also believe in the transparency that a stock market listing brings so are committed to the Club remaining listed on the stock exchange and to greater fan involvement both through share ownership and also Board representation for the fans."
If Mr Moshiri brings that thinking to our club, and gets us onto that kind of footing in the near future, with a nice new shiny stadium along the way as well, then I'll be more than happy with that!
391 Posted 28/02/2016 at 16:38:12
It will be like Moyes getting applauded at his last game in charge of Everton. I'd long gone then and the 35,000 or so who stayed and clapped, well I thought it was ridiculous, but that's life and remember the majority are not always right.
392 Posted 28/02/2016 at 16:43:34
1. I am with Brent that there are few concrete facts other than Earl has exited, Bill and Woods have diluted, and the new man owns the largest stake in the business. I cannot find any reliable disclosures on how much was paid for the shares so to Michael K and others trying to discern the implied price per share, I would urge caution. If someone can point to a reliable set of disclosures, then I am happy to provide an analysis.
If you use the figures bandied about i.e. £30m for the 49.9% stake, the implied value of all the shares is not necessarily £60m if the sale of this block did not bring some form of control. There would need to be a control premium paid and this would make the value of the shares higher. For example, if the new man needs your 1 share to pass a crucial vote at the AGM and the market value of 1 share is £1,500, you strike a deal to sell your 1 share for £3,000, which then represents the control premium.
Assuming the value of the shares was £60m, the value of the club is not £60m, ie, it is not simply the value of the shares. We must add the net debt of EFC to arrive at an Enterprise Valuation. Assuming a net debt of £30m then this implies an EV of £90m. If this value were the actual enterprise value, it would make a lot of sense to me. As many have pointed out, Everton may have a gross value of £200m or more based on the value of the playing squad and net earnings from broadcast revenues, but against this you would probably need to offset the value of investment needed for a new stadium or an upgrade on the existing stadium. Goodison is greatly ageing with limited facilities and in the entertainment sector you would apply a discount to a business whose main facility was as ageing as Goodison. So adding a minimum investment requirement of £100m to upgrade Goodison or as a contribution to funding a new stadium, and an enterprise value of the club at around £200m starts to make sense.
The big question is: does Moshiri inject £100m and then completely dilute BK, Woods and all the other shareholders? Or will he inject these funds as a loan? It is a critical question which hopefully will become clear in the coming days/weeks.
2. There appears to be a promise of new investment from the new man but I see nothing on how it will actually be applied. Clearly the stadium issue should attract most of his funding but I do hope he clears completely or reduces the existing debt. The right thing for a new owner to do is, for a period of time at least, to avoid leakage of cash to make interest payments and funnel these funds towards the wage bill or transfer kitty. This is particularly necessary if Moshiri earmarks the bulk of new investment to upgrade the stadium.
3. The comment in BK's statement I found interesting was that he had been talking to Moshiri for 18 months. Did he use the American offer to force Moshiri's hand? Smart move if he did.
4. Many are saying they expect Usmanov and Dien to become involved. Can Usmanov be allowed to have a direct or indirect interest in two Premier League clubs at the same time? If not, is it realistic he would sell out at Arsenal? I doubt it. Also, as far as I am aware, Dien still has some commercial arrangements with Arsenal (and is a diehard fan) so I would greatly question the likelihood of his involvement. It may, however, be that Moshiri is a front man allowing Usmanov/Dien to sit in the background, but this would be purely speculative.
I will reserve judgement like Brent and others until we have a few of the key questions answered (perhaps EFCSA can submit a list!) namely
1. How many shares are BK and Woods left with, what price did they sell their shares at?
2. Have they agreed to sell their remaining shares in the future and, if so, at what price? Or have they agreed to dilute in exchange for new investment, if so, at what price?
3. How will new investment be introduced, as loans or equity? If latter how does it affect other shareholders besides BK and Woods, ie, will they be diluted?
4. What happens to the existing debt? Are there not change-of-control provisions in those bank facilities requiring them to be repaid upon control changing hands? If so, will this come from the pot of new investment?
393 Posted 28/02/2016 at 16:49:59
394 Posted 28/02/2016 at 16:57:46
395 Posted 28/02/2016 at 17:28:12
With the sale of Stones, we are almost guaranteed £50m plus, so with this and the TV money, I think we're covered for new players and investment in the (new?) ground.
396 Posted 28/02/2016 at 17:37:27
397 Posted 28/02/2016 at 17:48:38
More palatable to some than American ownership although to be honest, I don't understand why. This guy, contrary to many posts on here, never owned shares individually in Arsenal and has never run a club or been on a board of a club. That may not doom him to failure as it worked for the two Swansea owners, at least until this year perhaps.
Kunai, with all due respect,, how could he have been involved in the move to the Emirates when the stadium was in the planning stages, I believe in the late 90s, many years before Red & White bought shares in Arsenal in 2011? It was opened in July 2006. Information that you have that we don't? Please share.
As for the "letter", it sure sounds like a bitter defense of a failed takeover. It is a minority shareholder position statement used over here as a precursor or as evidence to a minority shareholder suit. I admit that I know nothing about English law (aside from the funny white wigs and the movie A FIsh Called Wanda) and shareholder rights in limited companies over there. I suspect it is little more than politicking and a regurgitation of what Red & White were going around telling the shareholders (prior to the two shareholders choosing to sell to Groenke) in secret, would be my guess. Wonder why they chose not to sell to this guy and his partner?
As for his investment in Everton, try this scenario. Russian and his partner in other ventures sees TV revenue improving, sees the benefits of the Stadium to generate revenue, and sees the global marketing strategy of Arsenal starting to pay off. The two then form a company to buy shares ultimately to try to take over a cash machine. Once Red and White own the majority ownership, it can bring on as many "investors" into the companyt (Red & White) not Arsenal, and original founder gets out making piles of cash in the process. Stan Groenke decides he wants the cash to be made based upon his own assessment and beats them to the punch. Frustrated and knocked back, one or both men look for a scheme to invest in another EPL team. The new TV deal is announced subsequent to these battles and with nothing changing at Arsenal, something must occur before next season. At present, Everton are the only team for sale that are a near certainty to remain in the EPL for next year's TV deal dollars.
The Americans were classed as raiders to strip assets and make a quick buck. What has this guy shown differently? He also has no ties to the club. It is an investment that next year will see a return on the investment without doing anything or spending any additional cash. Simply, of the clubs for sale, Everton are the only one that will be in the EPL next season. If Aston Villa were midtable, I would bet its new majority shareholder would have the same name as this guy.
Before TWs blast me for being negative, I am glad there is something positive about the Everton ownership dilemma. I truly hope he abides by the spirit of the letter from his former partner. I believe any investment in Everton is some progress. So to with shuffling out some of the anchors holding the club back. There is nothing negative on the guy that I found that would say he is a bad character, etc. I hope this guy dumps loads of cash into Everton and wants to beat Chelsea and Man City and Arsenal at their own games. Not sure how bright the future might be at Everton but at least some light with the promise of full brilliant sunshine is better than shadows and doom and gloom. Here is to a new era at Everton. COYB
398 Posted 28/02/2016 at 17:54:59
The second thing is that realistically, having read a little about his time at Arsenal, he was, as is proved by his letter to the board, a man who views the commercial side of the business, and the financial side as hugely important. He wants to compete at the very top echelons, and furthermore was dead against selling in his words marquee players, less chance of us cashing in on the family silver sits well with me. He is no mug. Again though this is not an educated view so I would happily listen to a more informed view.
As an aside, what are the Arsenal fans saying?
399 Posted 28/02/2016 at 18:05:34
Let's just repeat that, a billionaire is now our major shareholder because Bill has convinced him to invest a massive sum of his money to buy his shareholding. On what basis can the view, 'you can't trust Bill' now be credible? Just give us all one example of why Bill pulling off this deal is to the detriment of our club.
No problem with an alternative opinion. Simply stating though that you can't trust Bill, isn't a credible opinion anymore without providing an explanation to support the assertion. The whole basis of the 'not trusting Bill' narrative was he would never sell, or get a billionaire investing, but he has now. Can't you see that?
400 Posted 28/02/2016 at 18:20:30
401 Posted 28/02/2016 at 18:25:50
I don't have any reservations about Moshiri owning half the club, I welcome the fact, but it will be interesting to see if him coming on board makes us any more competitive in the future.
Maybe it will, maybe not, the rhetoric sounds promising, but!
402 Posted 28/02/2016 at 18:26:15
'It is an investment that next year will see a return on the investment without doing anything or spending any additional cash'
If that's the case what would be your theory as to why the current shareholders have sold?
403 Posted 28/02/2016 at 18:32:24
It can be argued he still hasn't found an investor as Moshiri hasn't put any money into the club yet, but I simply don't think he's bought 49.9% without the intention of acquiring further equity, which will almost certainly involve investment directly in our club.
404 Posted 28/02/2016 at 18:41:12
Congratulations, Phil. You've described the process of investing in a football club. Buying shares is how you buy a football club. We've just secured a massive investor who has taken a strategic decision to sell Arsenal shares (a very profitable Arsenal) and purchases around 50% of our club and you are turning this into a bad thing?
How exactly did you expect this to happen, Phil? Someone would appear and buy 100% of the club? Did you want a stadium and player investment before a share purchase?
Unbelievable. Some people just look for negatives.
405 Posted 28/02/2016 at 18:57:29
The club could now actually access funds from the market to redevelop Goodison or seek to move to a new site and build a new stadium instead of having to borrow from the offshore equivalent of Wonga to finance the painting of the gents toilets. That one fact changes everything for the club.
406 Posted 28/02/2016 at 19:28:23
Lyndon's opinion piece, Winds Of Change, I think echoes the expectations of all Evertonians. I don't think there are any of us who don't want this to succeed. However caution is natural. I can understand the stance some of us are taking. We've had our hopes dashed before. But for me, that's in the past. Irrespective of the role Kenwright has at the club before, now or in the future. It's in the past, the time has come to move on.
407 Posted 28/02/2016 at 19:32:05
If that indeed happened, we at last would have more of a chance to get up there where the trophies are. We have a lot of catching up to do, mind.
408 Posted 28/02/2016 at 19:40:59
When City and Chelsea suddenly had billionaires as major shareholders had nothing changed then either because when those guys acquired shares in those clubs they didn't initially invest any money.
Is this really difficult to understand? We've got a billionaire on board who's made a clear statement of intent by purchasing 49.9%. This is a recognised way in business to start the process of increasing an investor's equity whilst keeping options open for all current and possible future stakeholders. One thing is for sure this will be transformational over the coming months for our club.
409 Posted 28/02/2016 at 19:43:59
410 Posted 28/02/2016 at 19:55:03
I refuse to be cautious, or wary with whats happened. I've seen so much go bad for Everton that I'm steadfastly going for optimism now. I think that it makes sense to keep Kenwright as a figure head and at the helm of the great ship Everton but I feel sure that the new major shareholder will be setting the speed and the course.
If in the future, I find myself drowning my sorrows in a pub on the Dock Road, because it's all gone tits up, so be it. It's nowt new.
I think though, that we're going to become a force again in English football. It might take a while but I think it will be steady progress.
Now I like Martinez and I think he's building a good squad for us. But the bottom line is to be successful. For all those who don't think he's up to it, then they can rest easy, as the new feller will expect high standards on and off the pitch.
I think one of the many things he'll be looking at, is the pathetic commercial and sponsorship deals we have; and will rapidly be looking to increase the value of both.
So all in all. Not a bad week end.
PS, I don't see why Yanks, as some call them, are automatically envisioned as carpet baggers. I think it's disrespectful to Americans. No need for it.
411 Posted 28/02/2016 at 19:55:29
With Kenwright and his running of the club, I think it is best to hope for the best and be prepared for the worst.
413 Posted 28/02/2016 at 20:04:59
414 Posted 28/02/2016 at 20:20:25
If he's pulled out of Arsenal because he didn't have enough power to do things he's investing in us to do precisely that. Where others may have balked at the killing Earl was going to make, he must have looked at it logically and thought we are underpriced based on our potential / TV money etc.
We've been punching above our weight financially for years now, my bet is he's looked at Everton as a Northern version of Arsenal at a bargain price with the scope to make huge changes that will quickly make the value rise plus he probably realises this was last chance saloon to get in before the TV money came in. Reading his open letter to Arsenal fans he knows that this can only be underpinned by success on the pitch.
In short I think we may finally have an engine driver in charge of the train set.....
415 Posted 28/02/2016 at 20:23:49
419 Posted 28/02/2016 at 20:31:13
Lovely to also watch the RS get done on penalties, thus opening up another Europa League spot in the league.
420 Posted 28/02/2016 at 20:37:30
421 Posted 28/02/2016 at 20:40:27
James Marshall's point about another Europa League place is important; if we can get into a qualifying position then this season will not have been a failure, regardless of the FA Cup.
The quality of teams in the closing stages of the competition this year is striking and I would like to see us give it a real go next year armed with proper investment and with a more developed squad.
422 Posted 28/02/2016 at 20:41:54
I don't see why people are so suspicious all the time and it's also being done gently in a non-hostile manner which is surely a good thing as well?
Bill Kenwright has essentially delivered on what he said he would he made us stable, and has secured investment, and done it such a way as to not sell the soul out from under himself. Smart if you ask me.
423 Posted 28/02/2016 at 20:42:07
I am confident a man with his education, business background, experience in holding large amounts of shares in a football club, and most importantly his connection to Usmanov, would not put himself in a vulnerable position at Everton.
424 Posted 28/02/2016 at 20:49:18
425 Posted 28/02/2016 at 20:49:35
426 Posted 28/02/2016 at 20:49:44
I agree James, some, I don't think would ever be content, no matter what the circumstances. I don't know if we'll get a new ground but, if not, I could see the redevelopment of Goodison taking place. I don't see the stagnation of the past God knows how long, continuing. I can't see this man taking control in all but name and not wanting to carry out the plan he will maybe have already.
He'll have a lot of contacts in the financial world and probably in the business world as well. So I think we are going to get progress at long last.
427 Posted 28/02/2016 at 20:58:54
428 Posted 28/02/2016 at 21:00:11
429 Posted 28/02/2016 at 21:03:06
The reason for the 49.9% shareholding is probably due to safeguarding any lunacy resolutions which is a precaution that is probably unnecessary. There may also be shareholders agreements which state that anyone who holds over half the shares has to legally offer to buy all the other shares at the same price. From experience, this is not that uncommon an agreement amongst private companies. Therefore he doesn't want to have to buy shares that he doesn't need to own in order to wield control.
430 Posted 28/02/2016 at 21:08:19
431 Posted 28/02/2016 at 21:12:10
I heard Gooner fans' disdain for Wenger, perhaps he can come consult for us after this season, LOL.
432 Posted 28/02/2016 at 21:48:28
Kenwright (love him or hate him) has over the years kept Everton in the Premier League. Kudos for that. Look at the other big (sleeping giants) that have fallen by the wayside. That could have been Everton, but we are still there. We are now entering a new Premier League era. We are still there ....fighting.
And, yes, I know all about Kenwright. I know how a number of supporters view him. I know about all the lies (allegedly) that have been touted around. And yes, I wanted so much more from everybody connected with Everton over the years.
But in the cold light of day, it could have been so much worse. And this major investment along with the big TV money from next season., this could now be Everton's time... at long bloody last. I give credit to Kenwright, that Everton Football Club are still one of the top football clubs in the country, I really do. Bring it on, next season; it is going to be interesting.
A game coming up on Tuesday. Let's hope that getting a new major investor in place, has the same effect as getting a new manager. And that we get the three points. Get the Manager and players showing everyone what they are capable off. Get the manager and players doing their utmost to still be at Everton next season. A win on Tuesday night would cap off a very good week. IMHO. Up the toffees. The billionaires club. Hopefully........?????
433 Posted 28/02/2016 at 22:16:12
It is clear that Bill Kenwright was head of a group who had/potentially still have complete control of EFC.
Until Moshiri acquires a controlling stake, or actually shows us something tangible, I have to consider this as Kenwright simply shifting his 'protection' favour from one friend (Green) to another (Moshiri).
Kenwright remaining at the club stinks the place out frankly.
434 Posted 28/02/2016 at 22:23:43
It is a strange deal for a football club as it currently stands but we all have to hope that there is something more to come to ensure that money, significant money, is actually invested in the club.
435 Posted 28/02/2016 at 22:26:13
Apart from the likes of BK and Lord Grantchester forming an unlikely alliance it would require almost every other small shareholder (including many with one or two shares) bring traced and then also agreeing to join that alliance. This guy is as much in charge as Sir John Moores or Peter Johnson were.
436 Posted 28/02/2016 at 22:42:37
Colin get over it man! If that's all that you're worried about... WTF?
437 Posted 28/02/2016 at 23:09:27
438 Posted 28/02/2016 at 23:27:22
BK only had 25.84% of the shares before Moshiri bought his 49.9% and we all assumed that BK was responsible for all decisions at the club. Why do we seem to think that a man with less than half the amount of shares than Moshiri, will be able to outvote him on key decisions?
With Earl gone Moshiri may hire someone and put him on the board, plus people seem to think that Elstone may not last and that could be someone else he could replace and put on the board .
As the song goes 'Don't Worry Be Happy".
439 Posted 28/02/2016 at 00:04:58
There is no way I am going to read all of the posts, but I've skimmed through, and I believe I've got a handle on things.
Things will be different, but not yet. Cautious optimism until we know more. We couldn't stay where we were, so change is essential. The status quo was untenable.
Many more positives than negatives. The next bit is going to be fascinating.
440 Posted 29/02/2016 at 00:25:54
Gimme a Shah over a Charlatan any day....
442 Posted 29/02/2016 at 01:26:39
If Goodison cannot be revamped, then I would go all out to build on Stanley Park.
Hang on a minute, breaking news, it has come to the attention of Liverpool City Council, that Uncle Jack Crumble,has a bygone agreement that Stanley Park cannot be built on, due to it being desicrated ground of thumbadink hiawafa.
Stanley Park cannot now be up for an option to build here.
LCC would like to apologise over the matter but will do whatever it can, to find a visable option for a site to assist Everton Football Club, as for now, we have checked various sites and the computer says no.
443 Posted 29/02/2016 at 01:44:33
LOL on the topic of majority shareholder. Andy 403 pretty much explains what I think of the issue. I don't believe an astute man like him would buy 49.9% to get out voted. It will be a new voyage of his desire. Whatever happens from here, things will be interesting to say the least.
My next question is to how he will assess our league credentials under RM, something I believe will be known before the end of the season.
444 Posted 29/02/2016 at 02:52:35
How on earth can Bill Kenwright and this ÃƒÂ¢Ã‚â‚¬Ã‚â„¢groupÃƒÂ¢Ã‚â‚¬Ã‚â„¢ you speak of ÃƒÂ¢Ã‚â‚¬Ã‚â„¢potentially still have complete control of EFCÃƒÂ¢Ã‚â‚¬Ã‚â„¢?
How is it possible to ÃƒÂ¢Ã‚â‚¬Ã‚â„¢considerÃƒÂ¢Ã‚â‚¬Ã‚â„¢ the events of this weekend ÃƒÂ¢Ã‚â‚¬Ã‚â„¢as Kenwright simply shifting his ÃƒÂ¢Ã‚â‚¬Ã‚â„¢protectionÃƒÂ¢Ã‚â‚¬Ã‚â„¢ favour from one friend (Green) to another (Moshiri)ÃƒÂ¢Ã‚â‚¬Ã‚â„¢?
Exactly who are this ÃƒÂ¢Ã‚â‚¬Ã‚â„¢groupÃƒÂ¢Ã‚â‚¬Ã‚â„¢ that today might have ÃƒÂ¢Ã‚â‚¬Ã‚â„¢complete controlÃƒÂ¢Ã‚â‚¬Ã‚â„¢ of the club?
ItÃƒÂ¢Ã‚â‚¬Ã‚â„¢s not rocket science. A near third of the shares of this club are held by people outside the board. Moshiri now has a tad below 50% of the remaining 67(ish)%.
Kenwright now has a fraction of that remaining 17%.
Is your evident distaste for BK Ã‚â€“ and I am no fan, by the way Ã‚â€“ so deeply sunk to be immovable that you need to make such unfounded and uninformed claims that Billy is still in ÃƒÂ¢Ã‚â‚¬Ã‚â„¢complete controlÃƒÂ¢Ã‚â‚¬Ã‚â„¢ and playing off his erm ÃƒÂ¢Ã‚â‚¬Ã‚â„¢friendsÃƒÂ¢Ã‚â‚¬Ã‚â„¢?
Can anyone imagine Kenwright outmaneouvering Moshiri? But even then Neil your grasp of the situation is fundamentally flawed.
ÃƒÂ¢Ã‚â‚¬Ã‚â„¢Kenwright remaining at the club stinks the place outÃƒÂ¢Ã‚â‚¬Ã‚â„¢.
Again, I want him gone too. But it makes absolute complete business sense to have BK as chair with his diminished number of shares (how has anyone ever diminished their shares but possibly remained in ÃƒÂ¢Ã‚â‚¬Ã‚â„¢complete controlÃƒÂ¢Ã‚â‚¬Ã‚â„¢?) as Moshiri Ã‚â€“ like VW with Porsche Ã‚â€“ snaps up 49.9%of shares (astute business that) and begins the process Ã‚â€“ with, I believe, his long-term best business buddy ٧.8 billion Usmanov in tow Ã‚â€“ of gradually perhaps sooner rather than later completing a takeover.
Be happy, fecks sake. There is one possible train of thought that suggests that BK has done incredibly well (and very unselfishly) by the club and us. Selling at a knockdown price to secure major investment.
DonÃƒÂ¢Ã‚â‚¬Ã‚â„¢t judge him in this particular instance until all or nearly all Ã‚â€“ becomes less foggy and clearer.
445 Posted 29/02/2016 at 03:52:21
The reason for the current sale could be some financial issues with current ownership that we do not know, or it could be BK's health issues. It could be that there is a sense that Evertonians will not put up with the status quo and current ownership are not willing to do anything more. The fact is that some of the ownership wanted to sell is possibly due to having to fork out $$ for Goodison and to shell out tons of money to keep its current players and to sign new ones. The TV money wouldn't cover all of it.
New ownership buys an additional 1-3 years of promises and delay without the same criticism current ownership would get for doing nothing. This would hold so long as the prospect of a plan for this guy to ultimately take over continues to be dangled as the carrot at the end of the stick.
446 Posted 29/02/2016 at 07:24:19
447 Posted 29/02/2016 at 14:31:17
448 Posted 29/02/2016 at 17:35:16
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