Taff
Player Valuation: £1m
Roberto?
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Roberto?
ALANSTUBBS
Player Valuation: £5m
Has he signed yet?
Chimpy Glassman
Player Valuation: £30m
@The Esk
http://www.liverpoolecho.co.uk/spor...ton-majority-investor-farhad-moshiri-11415873
Everton majority investor Farhad Moshiri already has deal in place to buy more shares
Farhad Moshiri has secured the right to increase his stake in Everton , the ECHO can reveal.
Last February, Mr Moshiri announced that he had bought a 49.9% stake in the Goodison Park club for a reported £87.5m, but this was not enough to give him a majority stake, a fact that has puzzled many fans and financial experts.
Mr Moshiri bought his shares from Robert Earle, Bill Kenwright and Jon Woods, with Mr Earl selling his entire holding while Mr Kenwright and Mr Woods sold part of their holdings.
At the time, Mr Moshiri stayed silent about whether he intended to increase his stake at any point in the future, something many observers say would be necessary before the Iranian born billionaire would invest large sums of money in Everton’s playing squad or a new stadium.
The ECHO can now reveal that Mr Moshiri has in fact already clinched a deal that gives him the right to buy more Everton shares.
Mr Moshiri holds his stake in Everton through an Isle of Man based company called Blue Heaven Holdings. Documents lodged at The Isle of Man’s Companies Registry show that Mr Kenwright, Mr Woods and another long-time Everton shareholder, Arthur Abercromby, have already granted Mr Moshiri the option to buy more of their shares.
The Isle of Man records also show that Mr Moshiri has granted charges over the assets of Blue Heaven Holdings that guarantee that the three sellers will receive payment for their remaining shares, should he exercise his option to buy. In effect, these documents reveal that the deal to transfer more shares to Mr Moshiri has already been lined up, with details, such as the price to be paid, already agreed.
Nevertheless, the Blue Heaven Holdings documents filed at the Isle of Man registry do not specify how many shares are covered by the separate option agreement. Instead this and other matters are set out in a separate, private agreement that is not on the public record but the ECHO understands that it covers all of the outstanding shares currently in the ownership of the three sellers.
If all of the three sellers’ outstanding shares are bought by Mr Moshiri, it would take his stake to just over 76% of the club. That would be enough to give him undisputed control over all of the affairs of the club.
It is not clear why the four parties have decided to structure the deal in this complicated way.
Experts say that the exercise of Mr Moshiri’s option might depend on certain events coming to pass, but this could be anything from personal tax matters to the granting of planning permission for a new stadium.
“There could be one of a hundred reasons,” said James Dow, a corporate finance adviser who has previously worked for Everton and other major European clubs.
Mr Dow, whose corporate finance brokerage has bought and sold many businesses, added: “It’s unusual.
“You would normally have these arrangements when somebody’s committed to a purchase but something is not yet sorted out or somebody has not yet fulfilled a promise.
“It might be related to stadium funding or the selling shareholders may want to keep an emotional attachment to the club and continue as a shareholder to justify an executive role.”
Referring to Mr Kenwright staying on as Everton’s chairman, Mr Dow said: “It may suit him (Mr Moshiri) to have somebody else running the club because he might not want to give the time and resources or he might be anxious and want a gradual transition while he establishes his own credibility or acceptability among supporters.
“He has no previous affinity with the club and he might want a transition phase.”
Some observers, particularly in the Russian media, have speculated that the complex deal structure could reflect the fact that Mr Moshiri is holding the shares on behalf of his long-time business partner, multi-billionaire Alisher Usmanov.
However, Mr Usmanov has previously stated his intention to keep hold of his 30% stake in Arsenal for many years to come, thereby ruling out his involvement in Everton.
The agreement between Mr Moshiri and the other three Everton shareholders is called a put and call option. It’s a two-sided agreement that, as well as allowing Mr Moshiri to acquire more shares in Everton, also allows the sellers the option of forcing Mr Moshiri to acquire more of their shares.
However, it’s thought unlikely the sellers would exercise this option.
http://www.liverpoolecho.co.uk/spor...ton-majority-investor-farhad-moshiri-11415873
Everton majority investor Farhad Moshiri already has deal in place to buy more shares
Farhad Moshiri has secured the right to increase his stake in Everton , the ECHO can reveal.
Last February, Mr Moshiri announced that he had bought a 49.9% stake in the Goodison Park club for a reported £87.5m, but this was not enough to give him a majority stake, a fact that has puzzled many fans and financial experts.
Mr Moshiri bought his shares from Robert Earle, Bill Kenwright and Jon Woods, with Mr Earl selling his entire holding while Mr Kenwright and Mr Woods sold part of their holdings.
At the time, Mr Moshiri stayed silent about whether he intended to increase his stake at any point in the future, something many observers say would be necessary before the Iranian born billionaire would invest large sums of money in Everton’s playing squad or a new stadium.
The ECHO can now reveal that Mr Moshiri has in fact already clinched a deal that gives him the right to buy more Everton shares.
Mr Moshiri holds his stake in Everton through an Isle of Man based company called Blue Heaven Holdings. Documents lodged at The Isle of Man’s Companies Registry show that Mr Kenwright, Mr Woods and another long-time Everton shareholder, Arthur Abercromby, have already granted Mr Moshiri the option to buy more of their shares.
The Isle of Man records also show that Mr Moshiri has granted charges over the assets of Blue Heaven Holdings that guarantee that the three sellers will receive payment for their remaining shares, should he exercise his option to buy. In effect, these documents reveal that the deal to transfer more shares to Mr Moshiri has already been lined up, with details, such as the price to be paid, already agreed.
Nevertheless, the Blue Heaven Holdings documents filed at the Isle of Man registry do not specify how many shares are covered by the separate option agreement. Instead this and other matters are set out in a separate, private agreement that is not on the public record but the ECHO understands that it covers all of the outstanding shares currently in the ownership of the three sellers.
If all of the three sellers’ outstanding shares are bought by Mr Moshiri, it would take his stake to just over 76% of the club. That would be enough to give him undisputed control over all of the affairs of the club.
It is not clear why the four parties have decided to structure the deal in this complicated way.
Experts say that the exercise of Mr Moshiri’s option might depend on certain events coming to pass, but this could be anything from personal tax matters to the granting of planning permission for a new stadium.
“There could be one of a hundred reasons,” said James Dow, a corporate finance adviser who has previously worked for Everton and other major European clubs.
Mr Dow, whose corporate finance brokerage has bought and sold many businesses, added: “It’s unusual.
“You would normally have these arrangements when somebody’s committed to a purchase but something is not yet sorted out or somebody has not yet fulfilled a promise.
“It might be related to stadium funding or the selling shareholders may want to keep an emotional attachment to the club and continue as a shareholder to justify an executive role.”
Referring to Mr Kenwright staying on as Everton’s chairman, Mr Dow said: “It may suit him (Mr Moshiri) to have somebody else running the club because he might not want to give the time and resources or he might be anxious and want a gradual transition while he establishes his own credibility or acceptability among supporters.
“He has no previous affinity with the club and he might want a transition phase.”
Some observers, particularly in the Russian media, have speculated that the complex deal structure could reflect the fact that Mr Moshiri is holding the shares on behalf of his long-time business partner, multi-billionaire Alisher Usmanov.
However, Mr Usmanov has previously stated his intention to keep hold of his 30% stake in Arsenal for many years to come, thereby ruling out his involvement in Everton.
The agreement between Mr Moshiri and the other three Everton shareholders is called a put and call option. It’s a two-sided agreement that, as well as allowing Mr Moshiri to acquire more shares in Everton, also allows the sellers the option of forcing Mr Moshiri to acquire more of their shares.
However, it’s thought unlikely the sellers would exercise this option.
The Esk
Player Valuation: £70m
Cheers, the content in that article looks strikingly familiar.....
TheBlueGibbon
Player Valuation: £40m
Basically says what @The Esk has been telling us for a while, and that as far as anyone knows the Usmanov speculation is just speculation.
joey_macmo
Player Valuation: £35m
Those documents were discovered a long time ago, has it really taken the echo this long to take notice?
chazzle_dazzle
Player Valuation: £35m
Slower on the uptake then the official site.... if only they had investigative reporters who would dig into things... hmmmm
The Echo, a true bastion of journalism, with a story anybody could have made the connection to in February.
How lucky we are.
Good to know that they know he has that deal in place
How lucky we are.
Good to know that they know he has that deal in place
everton280
Player Valuation: £500k
they probably knew just couldnt reveal it until now
bluestevon
Player Valuation: £80m
Christ the Echo is so far behind on anything relevant to Everton that it's bordering on the absurd they can even call themselves journalists anymore, everythinng in that article is either common knowledge or has been stated by a few posters on here with supporting evidence that was the case
The Esk
Player Valuation: £70m
Why mate? The documents are a matter of public record - initially brought to light by KEIOC and then discussed here in great detail 2 months ago.
everton280
Player Valuation: £500k
Didnt know they were public documents so like the manager there behind on that aswell?
The Esk
Player Valuation: £70m
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