Everton finances and transfer kitties......

[ianefc]

When you add the £34m spent on Jan to this that's pretty impressive.

6 first team players in at the expense of 1.

Plus the like Onyekuru and Lookman.

 

[Goat]

Was reading this earlier

https://www.google.co.uk/amp/nairob...-full-list-of-sportpesa-shareholders.html/amp

@Dr Tobias @navidson @Blue_Berry

Lets drag it in here, save littering the transfer thread.

 

[Bungle]

@Dr Tobias @navidson @Blue_Berry

Lets drag it in here, save littering the transfer thread.

We need @hibbo'sclass to come and educate us all with some of his clever accounting words

 

[Dr Tobias]

Cheers @Duncan Disordely. I'm just asking your opinion as I'm confused when it comes to these kind of things. Not bedwetting or dismissing it from being a potential problem. Just don't understand this kind of thing really

 

[Duncan Disordely]

I wonder if one of the mods could move over the off topic bits of discussion about this from the transfer thread to here?

 

[Duncan Disordely]

Sportpesa does seem an odd one though, they've seemingly come from nowhere in 2014 to becoming a massive bookie/gaming company in Africa. Big enough to sponsor multiple football clubs including our own. They seem to be backed by numerous billionaires from different parts of the world.

 

[Bungle]

I wonder if one of the mods could move over the off topic bits of discussion about this from the transfer thread to here?

I think this is most of it mate

Hmm , large bank shaped black cloud on the horizon - could put a spanner in our spending plans

eh?

Do explain....

Heard about a rather worrying development with our primary banking establishment - I'm sure posters more ITK than me may be able to elaborate

Why don't you just say what you know....

Because I don't know much more than that! Just passing info on - scraps I know but apparently the unhappiness is something to do with the legitimacy of our sponsorship deal

I don't understand why the biggest bank in China, which we've just filed numerous charges on company house with, who are about to finance our new stadium through the LCC SPV, would be that bothered by our Sportpesa deal that's only a small % of our gross income?

Surely massive due diligence would've been done before the bank committed to funding us.

What's this mate?

Ah thanks..

So a Chinese bank is worried about a so called dodgy sponsorship deal? You couldn't make it up.. . Everton that.. will say it before someone else Does!

It's not the chinese bank

So who is it then?

Well Barclays have a single charge, but they are scarcely the main bankers. And the sponsorship is tiny compared to TV money, or indeed LCC or Moshiri guarantees. Going to take a wild guess this goes nowhere at all.

Barclays would be our other lender.

So who is it then ?

Our main bank - Barclays

Dont suppose you have a source for any of this?

Cos frankly it doesnt make sense, on any level.

Yes - somebody with no reason to tell porkies and in a position to know this sort of stuff

Just passing on what I've heard - Never been one to make something up for attention!

I also believe that Mr Elstone is particularly worried at the moment

so what does that mean then?

So is it somebody you know personally or 1 of the many, many attention seeking tools on twitter? Im not expecting you to name anybody, just trying to gauge things, thats all.

Personally

Could be nothing - he's not actually a fan so couldn't elaborate too much - He knows I am so was desperate to tell me this morning

More likely than not it's an anti money laundering or anti terrorist funding question being raised. There's massive regulatory pressure on banks now to ensure that the provenance of client (i.e. EFC) funds that flow into their bank accounts is legit and can be proven to be so. I'd imagine there's more to that than meets the eye when it's coming from Tanzania...

Yeah possibly some red flags with the whole thing, hopefully its nothing.

Was reading this earlier

https://www.google.co.uk/amp/nairob...-full-list-of-sportpesa-shareholders.html/amp

I was just adding that as I thought it would be odd that Barclays would agree to a new charge in the last two weeks if they had concerns about Sportpesa.

I'm not calling @navidson out or anything, just trying to get my head around it.

It's OK mate - could be a load of fluff for all I know - just passing it on

Barclays would be informed during negotiations with Sportpesa. They would then conduct due diligence themselves along with our own advisors and we will have signed the contract.

The only reason there would be something amiss is if the payment was received from a different account than one of the Sportpesa ones submitted to Barclays.

It really doesn't make sense.

Mate, why would a bank, any bank, care about the legitimacy of our sponsorship deal?

What exactly is meant to be "illegitimate" about it? And why would that concern the bank?

The only reason I could imagine any bank being concerned with "legitimacy" is a concern that the payments we are owed are being legitimately paid. Even then, say for some reason they were not, we have a 60 million quid credit facility from a separate bank to the one your mate is claiming is concerned.

I've no idea why Barclays would give a fart about our sponsorship deals? Has that ever been related to any of our financial dealings with them? Not that I'm aware.

Barclays had cut our overdraft limit down years before when we sold Arteta and we used another funding vehicle to leverage the tv revenues and season ticket sales I believe.

So please ask your mate why any bank would take issue with the legitimacy of the sponsorship deal?

Reading what you've posted about it would indicate that neither you nor your mate have any actual clue given the vagueness of the claims. "Unhappiness is something to do with the legitimacy of our sponsorship deal", "large bank shaped cloud on the horizon - could put a dent in our spending plans"

It's awfully light on relevant details mate and doesn't make much sense.

 

[BlueLlama]

Our transfer kitty

 

[Duncan Disordely]

I think this is most of it mate

Vote @Bungle for mod

 

[Efcjake]

This is a strange rumor that requires more details.

It's very vague bad news.

 

[Bungle]

Vote @Bungle for mod

The recognition I deserve at last.

I can promise that if I get in power my first act will be to ban @hktoffee @People75 and @d4kyxx

I will restrict Zat to his own thread with no access to the younger members of GrandOldTeam, and I will unban @ericdjembadjemba, [USER=8807]@Del and @bluemangroup

I will also remove the swear filter.[/USER]

 

[Duncan Disordely]

The recognition I deserve at last.

I can promise that if I get in power my first act will be to ban @hktoffee @People75 and @d4kyxx

I will restrict Zat to his own thread with no access to the younger members of GrandOldTeam, and I will unban @ericdjembadjemba, [USER=8807]@Del and @bluemangroup

I will also remove the swear filter.[/USER]

A solid manifesto.

 

[ianefc]

The recognition I deserve at last.

I can promise that if I get in power my first act will be to ban @hktoffee @People75 and @d4kyxx

I will restrict Zat to his own thread with no access to the younger members of GrandOldTeam, and I will unban @ericdjembadjemba, [USER=8807]@Del and @bluemangroup

I will also remove the swear filter.[/USER]

I'm in. I will support you in any way I can.

 

[Blue_Berry]

Mate, why would a bank, any bank, care about the legitimacy of our sponsorship deal?

What exactly is meant to be "illegitimate" about it? And why would that concern the bank?

The only reason I could imagine any bank being concerned with "legitimacy" is a concern that the payments we are owed are being legitimately paid. Even then, say for some reason they were not, we have a 60 million quid credit facility from a separate bank to the one your mate is claiming is concerned.

I've no idea why Barclays would give a fart about our sponsorship deals? Has that ever been related to any of our financial dealings with them? Not that I'm aware.

Barclays had cut our overdraft limit down years before when we sold Arteta and we used another funding vehicle to leverage the tv revenues and season ticket sales I believe.

So please ask your mate why any bank would take issue with the legitimacy of the sponsorship deal?

Reading what you've posted about it would indicate that neither you nor your mate have any actual clue given the vagueness of the claims. "Unhappiness is something to do with the legitimacy of our sponsorship deal", "large bank shaped cloud on the horizon - could put a dent in our spending plans"

It's awfully light on relevant details mate and doesn't make much sense.

The point mate is simply that Barclays are obliged by law to prove to their regulator that they have proven the legitimate provenance of any funds that come onto an account that they operate on behalf of a client. It's not that Barclays has any beef with Everton, it's simply that they have to uphold their end of the anti money laundering gig, as a regulated bank. It's a global thing - all countries have this requirement of their banks. Well, except North Korea, Sudan and the like...

 

[Seathestars]

The recognition I deserve at last.

I can promise that if I get in power my first act will be to ban @hktoffee @People75 and @d4kyxx

I will restrict Zat to his own thread with no access to the younger members of GrandOldTeam, and I will unban @ericdjembadjemba, [USER=8807]@Del and @bluemangroup

I will also remove the swear filter.[/USER]

Can we have a dedicated dogging thread, I'll vote for you if so, I think it's called cronyism or something similar.