Farhad Moshiri

[BlueStevie35]

not this month, just when its really needed though.

Because the wage bill is too high, how tf are people STILL not getting this, we have to REDUCE the bill BEFORE we can add to it

 

[mkrudden]

Everton is not debt-free. The club now has more bank debt than before Moshiri arrived (£75m vs £57m).

Correct me if I'm wrong but weren't we ridden with non-bank debt when he came in and now we have none.

At the same time he's thrown money at the squad and is paying the pre-approval expenditure on the new stadium?

 

[Frang]

hes an Arsenal fan and should be nowhere near our club.

 

[devlinadl]

Correct me if I'm wrong but weren't we ridden with non-bank debt when he came in and now we have none.

At the same time he's thrown money at the squad and is paying the pre-approval expenditure on the new stadium?

Yes, the club had £57m in non-bank debt, which Moshiri cleared. However, the club has now borrowed £75m from banks, so the net position is £18m worse. The club now owes £325m, £250m to Moshiri (which I assume will not be repaid) and £75m to two banks (Santander, Industrial and Commercial Bank of China).

 

[BlueStevie35]

hes an Arsenal fan and should be nowhere near our club.

Clutching there now Frank

 

[radiostar]

First of all tag me if you're gonna mention me

Second of all I don't think everything is sunflowers and rainbows, everything has been a mixture of occasional goodness with a lot of grimness but I just don't let things consume my every being like you and most on here, too many more important matters to be concerned with. I watch the game once (or twice if we have a midweek game) a week, I get a buzz if we win, fume if we lose, shrug if we draw and then within a couple hours I'm over it and focus on other things

Like I say, I envy you!

 

[BlueStevie35]

Like I say, I envy you!

If you find yourself getting overwhelmed, take a step back and reassess your life choices, simple as that

 

[davek]

How is that even true?

It just is.

 

[davek]

This isn't quite true. Moshiri has lent the club £250m. There is no realistic likelihood that th emoney will be repaid, so the club's accounts treat it as if it had been converted to shares rather than as debt. Part of this money was used to repay the club's existing debt of (IIRC) £57m. However, since then, the club has borrowed a further £75m from banks. The total net investment since Moshiri arrived is £268m, £250m from Moshiri and £18m in increased bank debt. This is in addition to the money Moshiri spent buying shares.

Yes, but the notion that you describe the payment for shares in one form or another as 'pumping money into the club' is ludicrous.

 

[LEONARD]

Every night, the same nightmare.

 

[The binman chronicles]

How is that even true?

I can answer that.

1+1 = wibble.

 

[Steve Wigan]

Yes, the club had £57m in non-bank debt, which Moshiri cleared. However, the club has now borrowed £75m from banks, so the net position is £18m worse. The club now owes £325m, £250m to Moshiri (which I assume will not be repaid) and £75m to two banks (Santander, Industrial and Commercial Bank of China).

You are suggesting that we have used the line of credit(£60m) that we have with the Bank of China? When did that happen?

 

[devlinadl]

Yes, but the notion that you describe the payment for shares in one form or another as 'pumping money into the club' is ludicrous.

Clearly the term "pumping money" is subjective, but if the club gets the cash and if Moshiri doesn't get repaid (which doesn't seem likely as the club couldn't repay if it wanted to), I think that's close enough to qualify. All I am interested in is: does the club get the money? This qualifies. Buying existing shares from existing shareholders doesn't. YMMV.

 

[devlinadl]

You are suggesting that we have used the line of credit(£60m) that we have with the Bank of China? When did that happen?

"How are these losses funded?

The losses are funded from two sources. Firstly, an additional capital injection of £100 million from Farhad Moshiri through his Isle of Man company BlueSky Capital and secondly use of our credit facilities with ICBC and Santander.

£100 million capital injection by Farhad Moshiri

£43 million used of £60 million credit facility offered by Industrial and Commercial Bank of China, secured against Premier League broadcasting revenues

£32.2 million from Santander secured against player trading receivables (remaining Lukaku payments due from Manchester United)"

https://theesk.org/2018/12/18/inves...o-losses-report-analysis-of-2017-18-accounts/

 

[Steve Wigan]

"How are these losses funded?

The losses are funded from two sources. Firstly, an additional capital injection of £100 million from Farhad Moshiri through his Isle of Man company BlueSky Capital and secondly use of our credit facilities with ICBC and Santander.

£100 million capital injection by Farhad Moshiri

£43 million used of £60 million credit facility offered by Industrial and Commercial Bank of China, secured against Premier League broadcasting revenues

£32.2 million from Santander secured against player trading receivables (remaining Lukaku payments due from Manchester United)"

https://theesk.org/2018/12/18/inves...o-losses-report-analysis-of-2017-18-accounts/