Farhad Moshiri

[hibbo'sclass]

i know that my interest has waned recently with the finances of EFC, but just spotted something that gives me a feeling of deja vu, which I hope is incorrect.
Companies House records show EFC have 2 unsatisfied charges currently. 1 is Metrobank so no real intrigue there, but the second one is a reappearance after about 3 years of Rights and Media Funding Ltd. Wrote on this a while back, and admitted that it was mainly conjecture, but this appeared to be a way of using IoM companies to replace the Vibrac/Mousehole structure when borrowing against PL money.
RMF have 3 chargeholders against them, Carroch Holdings Limited (which I thought was EFC funding based on dates registered from memory) Kirkton Investments Ltd (which I thought was West Ham funding, same reason).
The third is a Bermudan entity called MH Finance, kicked in Nov last year and appears to be denominated in Euros so probably sod all to do with us.
I may be wrong of course, it just concerns me that these boys have turned up again for apparently no reason if FM is fully funding us.

Just sayin.

 

[orly]

i know that my interest has waned recently with the finances of EFC, but just spotted something that gives me a feeling of deja vu, which I hope is incorrect.
Companies House records show EFC have 2 unsatisfied charges currently. 1 is Metrobank so no real intrigue there, but the second one is a reappearance after about 3 years of Rights and Media Funding Ltd. Wrote on this a while back, and admitted that it was mainly conjecture, but this appeared to be a way of using IoM companies to replace the Vibrac/Mousehole structure when borrowing against PL money.
RMF have 3 chargeholders against them, Carroch Holdings Limited (which I thought was EFC funding based on dates registered from memory) Kirkton Investments Ltd (which I thought was West Ham funding, same reason).
The third is a Bermudan entity called MH Finance, kicked in Nov last year and appears to be denominated in Euros so probably sod all to do with us.
I may be wrong of course, it just concerns me that these boys have turned up again for apparently no reason if FM is fully funding us.

Just sayin.

Equally, if he wasn't, we wouldn't be spending £70m+ on three players, we'd be doing a West Ham.

 

[hibbo'sclass]

Equally, if he wasn't, we wouldn't be spending £70m+ on three players, we'd be doing a West Ham.

I hope I'm wrong but it makes me uneasy if the club are mortgaging income streams - this was something that the previous owners were crucified for if you remember.

 

[orly]

I hope I'm wrong but it makes me uneasy if the club are mortgaging income streams - this was something that the previous owners were crucified for if you remember.

Ah for sure. But in them days, we were doing that AND buying no players. Can we expect Moshiri to just keep burning money? I dunno.

Ultimately I think we'd just sell Richarlison and Digne wouldnt we?

 

[hibbo'sclass]

But if you advance the payments to buy players, how do you pay the running costs?
As I said, I hope I'm wrong but my cautiously pessimistic 6th sense is kicking in.
Wish I'd not looked now

 

[Goat]

But if you advance the payments to buy players, how do you pay the running costs?
As I said, I hope I'm wrong but my cautiously pessimistic 6th sense is kicking in.
Wish I'd not looked now

The difference this time is that The Mosh is minted and has invested a decent chunk of change to care for our wellbeing.

 

[hibbo'sclass]

The difference this time is that The Mosh is minted and has invested a decent chunk of change to care for our wellbeing.

Not arguing the point that he's coughed up but surely the point stands though if you are still taking your main income stream up front (or a facility to do so), playing a dangerous game.
As you know mate, I tend not to get hysterical/bed-wetting/conspiratorial about things, so I have gone back and re-visited the company accounts. The Revolving Credit Facility of 60 mil would appear to have been withdrawn by the banks (probably the risk profile screwed due to Sky deal being affected by bloody Covid), so has had to be replaced by our old offshore providers. I would have expected Mosh to step in with an interest bearing facility on similar terms to the bank LIBOR + 3.5% I think.

Just sayin.

 

[Goat]

Not arguing the point that he's coughed up but surely the point stands though if you are still taking your main income stream up front (or a facility to do so), playing a dangerous game.
As you know mate, I tend not to get hysterical/bed-wetting/conspiratorial about things, so I have gone back and re-visited the company accounts. The Revolving Credit Facility of 60 mil would appear to have been withdrawn by the banks (probably the risk profile screwed due to Sky deal being affected by bloody Covid), so has had to be replaced by our old offshore providers. I would have expected Mosh to step in with an interest bearing facility on similar terms to the bank LIBOR + 3.5% I think.

Just sayin.

Mate it's risky asf, but the whole Moshiri model is.

Sit back and enjoy the ride, if it ends in us ceasing, so be it

 

[hibbo'sclass]

Personally think he should liquidate all his USM stuff and pour the dosh into us then sell out to Uncle Alisher.

 

[degsy]

Anyway, I've change my view of Moshiri...again.You'll be glad to know I'm officially 'Pleased' this month.

Why? I don't hear you asking.

Because given that City drove a herd of camels through FFP anyway and the relaxing of the rules due to Covid...which, despite all the fine words is not going away any time soon.
I believe Moshiri is going balls out this summer and maybe even next, in the hope that in a couple of seasons FFP will be worth even less than it is now...especially if you can throw £30-40Mill of fancy, (not necessary exactly 100% true...which is the whole point - special circumstances, resonable doubt etc) legal arguments at it down the track.

On a not unrelated topic...can anybody else smell a slight whiff of the Leeds of 20yrs ago in all this.

 

[hibbo'sclass]

Sod this, getting all excited so heading back to xhamster to calm down

 

[mos6141]

Sod this, getting all excited so heading back to xhamster to calm down

 

[Bilko]

What an owner, credit where it is due, delivering the money yet again. I thought he'd be sick of the incompetence he's witnessed over his previous seasons. Deserves a bit of success for his investments

 

[little elfin]

 

[little elfin]