The Mystery of Everton's Shadow Investor

Thursday 29 December 2016  32 Comments  [Jump to last]
Green, Vibrac and Everton

A recycled story of the questions raised by an Everton supporting MP to Greg Clarke the FA Chairman in October, to the Culture, Media and Sport select committee inquiry.

Ed Aarons of the Guardian doesn't add anything to the story of Vibrac, Everton and offshore funding for English football clubs, as far as many Evertonians are concerned, but it is a comprehensive piece with several links to other sources which some Evertonians may find interesting.

» Read the full article at The Guardian

Reader Comments (32)

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Rupert Sullivan
1 Posted 29/12/2016 at 10:46:02
For me, the part where they say that EFC took out another loan on August 26th 2016 is new... Why would EFC need another loan after they had just received an interest free loan of 㿼M from their new investor!??!

I had hoped that Everton were free from the funneling of Premier League money to Philip Green via the Virigin Islands when Moshiri came in... apparently not.

Tony Hill
2 Posted 29/12/2016 at 11:02:55
Does anyone know how much the August loan from Rights and Media Funding Limited is for? This has been funded, if I'm reading it right, from the Isle of Man it seems through Kirkton Investments and Carroch Holdings, also linked it seems to the BVI entity, Mousehole. Tracking directors and company structure in those jurisdictions will be difficult.

Seems odd... we should have drawn that money down long after Moshiri came in, and the signing off of the loan, as the piece suggests, is a bit of a farce.

Ah well, we know that the money behind most football clubs doesn't come from collecting tins and Moshiri is doing the right thing so far, or looks as though he is.

Jay Wood
3 Posted 29/12/2016 at 12:29:18
The murky world of football ownership and financing.

Why do we have the headline news that Moshiri has made us debt free with an 㿼 million interest free loan, and then in this report it states the club took out another loan at the end of August this year?

And more. That this was “A multi-million pound loan taken out by Everton Football Club and signed off by an ex-Riverdance dancer and his sister, who is an office worker at a BMW dealership in Sligo” commented @watchedtoffee on Everton Viral “Unbelievable isn't it?”

Let's see what player recruitment looks like come the end of January and let's see the first spade in the ground at Bramley-Moore Dock. Maybe then we can start believing in Moshiri's 'vision' (not that he has shared it with us as yet...).

Jeff Armstrong
4 Posted 29/12/2016 at 12:45:46
Jay, we need Jim White to ask a few questions – we might get to know a bit then...
Andrew Ellams
5 Posted 29/12/2016 at 12:51:57
I've been suspicious about Moshiri since day one. He's done nothing so far. Net profit in the summer transfer window after his alleged investment alongside record TV money and now the January transfer rumours are starting to sound like the summer ones were agents are using Everton to gather interest in their players.
Eric Myles
6 Posted 29/12/2016 at 13:00:35
This bit appears factually incorrect:

"It described the complicated process that saw Kenwright's consortium, True Blue Holdings, purchase a majority shareholding that year thanks to a substantial loan from BCR Sports – a family investment set up by Earl, the founder of Planet Hollywood and a long-term friend and business associate of Green."

TBH was funded primarily by Gregg in their purchase of shares in 1999, BCR bought out Gregg's shares (allegedly) in 2006.

Peter Laing
7 Posted 29/12/2016 at 13:08:17
Fantastic that the national media have now run this story exposing the shady world of football financing and Philip Green's association with Everton FC. Watched Toffee should be commended for the diligence shown in unmasking this tangled web and the likes of Greg O'Keefe and Dave Prentice from the Echo have been found once again wanting – puppets controlled by the puppet masters at Everton.
Craig Harrison
8 Posted 29/12/2016 at 13:17:22
Call me paranoid but isn't it strange that the media have sat on this story for so long and are only now publishing it. When it looks like Everton may actually have a chance of moving forward with a new stadium and player investment. If this results in an investigation does anybody know if we could be hit with relegation, points deduction, or financial penalty?
George Cumiskey
9 Posted 29/12/2016 at 13:22:16
Talks about how Kenwright has dragged EFC into the murky world of Philip Green and his dodgy financial dealings. I hope Moshiri isn't involved, the sooner we get rid of blue Bill and his cronies, the better!
Jonathan Tasker
10 Posted 29/12/2016 at 13:57:23
Whilst Kenwright remains at Everton, I don't expect anything good to happen. For me, Moshiri is only involved to extend Kenwright's time in charge .

Stevie Wonder at night time can tell we need two new goalkeepers but I don't expect anything much to happen in the January window.

Even the supposed interest in Lookman could well be using EFC as the usual transfer stalking horse.

Don Alexander
11 Posted 29/12/2016 at 14:24:18
George Cumiskey (#9) flags up something that gives me the creeps.

The Guardian has published that on 26 August 2016, post Moshiri in other words, Everton took yet another loan from a company now employing the very same sole director, a recently retired dancer, first borrowed from by Blue Bill.

The last sentence in the article is:

"A multi-million pound loan has been taken out by Everton Football Club and has been signed off by an ex-Riverdance dancer and his sister, who is an office worker in a BMW dealership in Sligo. Unbelievable isn't it?"

To me "Yes" is the perfectly reasonable answer. Question to be asked at the AGM perhaps?

Brian Cleveland
12 Posted 29/12/2016 at 14:32:46
Wasn't it only this month is was announced that Moshiri has now paid off all loans so the club only owes to him, and on a non-interest basis if I remember rightly?

If so, wouldn't that mean that loan would now be dead and irrelevant?

Jay Wood
13 Posted 29/12/2016 at 15:19:59
Craig @ 8.

You're paranoid.

You did ask ...

Don Alexander
14 Posted 29/12/2016 at 17:25:42
The Guardian article also directly quotes our esteemed Chairman on the "qualities" of the reviled Philip Green. Blue Bill said of him in 2011;

"He's a total genius when it comes to money. He's like Mozart is to music".

That'll be Micky Mozart I assume, snide supplier of double headed condoms so you can fuck someone twice at the same time. After all, only a total berk could be so wrong about Green AND Martinez couldn't they?

Tony Hill
15 Posted 29/12/2016 at 17:48:46
The August 2016 loan presumably, and by definition, was not part of the indebtedness paid off by Moshiri as the "other loans" balance of £54.8m as at end May 2016. I would be very interested to see how much it was for. What interest rate is being paid and who benefits?
Tony Hill
16 Posted 29/12/2016 at 17:52:29
PS what is the term of the loan?
John Keating
17 Posted 29/12/2016 at 18:08:13
I'd like to call Bill and Elstone "Dumb and Dumber" but far from it as they appear to be doing very well out of the Club
Colin Glassar
18 Posted 29/12/2016 at 18:12:05
As long as Saruman and Grima are still around I can't believe anything that comes out of Orthanc, I mean Goodison.

Harry Wallace
19 Posted 29/12/2016 at 20:12:02
If they borrow money but deliver an iconic and atmospheric 60000 seat stadium on the mersey i'd be delighted
Phil Bellis
20 Posted 29/12/2016 at 20:24:38
And/Or amazed Harry?
Dave Abrahams
21 Posted 29/12/2016 at 20:26:55
Harry (#19) I'd be delighted as well.

I'd be even more delighted if Billy Boy was buried in the footings of the new stadium, dead or alive!!!!

Harry Wallace
22 Posted 29/12/2016 at 20:27:58
I think they'll do it, Phil.
Tony Hill
23 Posted 29/12/2016 at 20:35:17
That's great, Harry, and I share your hope but would rather not be paying leeches along the way.
Chris Williams
24 Posted 29/12/2016 at 20:36:08

More like Shelob and Gollum surely.

Kevin Tully
25 Posted 29/12/2016 at 20:57:23
Don (#14) – Imagine staying on as the Chairman of EFC & pocketing 㿚m in the process whilst flogging everything of any value (including a certain W Rooney Esq) to ensure each board member could carry on regardless without having to open their wallet over a 16-year period! It's possibly the finest piece of business Earl, Woods & Kenwright will have ever been involved in.

To those that supported their business model and defended those named above, and there were many, I can't argue with any of it. It was brilliant.

Michael McCarthy
26 Posted 30/12/2016 at 00:08:58
Our new major shareholder on the 31 May clears the debts. In August we take out another multi-million-pound loan for almost as much as the original debt! The source of the debt is rather murky, or I am missing something? Can someone please explain?
John Audsley
27 Posted 30/12/2016 at 05:11:11
This is very fucking odd.

But when you have Blue Bill and Elstone still running the show despite Moshiri investing so much it's not really that much of a shock.

Only a madman could compare Green and Mozart... a minted madman these days but still a 100% tosser.

Martin Nicholls
28 Posted 30/12/2016 at 08:22:20
Bill Shankly once said that the great Dixie belonged in the company of the likes of Mozart. Fast forward and Kenwright substitutes Phillip Green for Dixie – to bastardize his quote, "What an Evertonian"!
Tony Draper
29 Posted 30/12/2016 at 15:21:42
Is this Kenwright's dirty secret?

Or the lie hid in plain sight???

Chris Williams
30 Posted 30/12/2016 at 15:48:41
Now it has appeared in the national press(again) it would be timely to have it raised at the AGM (again)

Last time it was brushed off by Elstone. It will be interesting to see if anything changes in the way it is dealt with this time.

A useful way to gauge the new regime perhaps?

Tony Waring
31 Posted 02/01/2017 at 10:27:33
Can anyone please clarify what's in it for Green and all the other cowboys? Massive interest charges perhaps?
Dan Egerton
33 Posted 09/01/2017 at 05:44:27
"For me, the part where they say that EFC took out another loan on 26th August 2016 is new... Why would EFC need another loan after they had just received an interest free loan of 㿼M from their new investor!??!"

I thought the 㿼M pound loan only happened recently, as in AFTER 26th August ?

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