End of Moshiri - Friedkin, APPROVAL AGREED
Re: End of Moshiri - Friedkin Purchase Falls Through
Paddy boyland on the blue room said people within the club are surprised at some of the reporting in regards to Textor.
I’d be surprised if he end up buying us. Just looks too complicated.
Seems like he’s scrambling around for the money.
I’d be surprised if he end up buying us. Just looks too complicated.
Seems like he’s scrambling around for the money.
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Cereal Killer
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Re: End of Moshiri - Friedkin Purchase Falls Through
So we won’t owe this guy £200m direct, we’ll just need to pay Lyon a load of money for some players
I suppose it’s different to the last failed takeovers…
I suppose it’s different to the last failed takeovers…
Re: End of Moshiri - Friedkin Purchase Falls Through
Something like this makes me feel like the 777 loan situation may become clearer soon
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Free Agent
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Re: End of Moshiri - Friedkin Purchase Falls Through
So it seems A-Cap want to monetise whatever as soon as they can. Hopefully, that means they would just take a straight 200m for the debt owed and we get a clean slate wrt the club ownership situation.
Re: End of Moshiri - Friedkin Purchase Falls Through
Textor declined to comment.....Free Agent wrote: ↑Tue Sep 10, 2024 3:29 pm Looks like Textor wants to IPO Everton also…
https://www.theguardian.com/football/a ... -takeover
Still hoping when or if the 777 shenanigans are sorted TFG come back in.
Re: End of Moshiri - Friedkin Purchase Falls Through
That Guardian piece is grasping. In related news, I promise free beer taps in every home if you elect me Prime Minister.
Re: End of Moshiri - Friedkin Purchase Falls Through
More great news everybody!
https://www.nytimes.com/athletic/575825 ... ourt-case/
Alisher Usmanov and Farhad Moshiri court case adds to Everton takeover complications
Jacob Whitehead
Uzbek oligarch Alisher Usmanov has taken legal action against a company owned by Everton owner Farhad Moshiri, creating a complicating factor in the club’s already difficult takeover process.
Usmanov, 70, is the founder of the global conglomerate USM, whose companies provided sponsorship to Everton worth some £12m each year, as well as purchasing a first naming rights option on the club’s new stadium worth £30m.
However, that funding stopped in March 2022 when Usmanov was sanctioned by the United States, European Union, and United Kingdom following Russia’s invasion of Ukraine, with Usmanov described by the EU as a “pro-Kremlin oligarch with particularly close ties to Russian president Vladimir Putin”.
Moshiri made his money as the CEO of a number of Usmanov’s companies, including becoming chairman of USM Holdings in 2013, a role which he resigned once Usmanov was sanctioned.
Documents filed at Moscow’s Arbitration Court in September 2023, and seen by The Athletic, list Somelior Holdings Limited, a Cypriot-registered company owned wholly by Moshiri, as one of six defendants in a case brought by Usmanov and USM Holdings. Somelior Holdings previously held a 10 per cent stake in USM, which had gone down to five per cent prior to the sanctions.
According to the documents, Judge A.N. Petrukhina approved a motion to hold the hearing behind closed doors owing to “the presence of trade secrets in the documents to be examined”, which had “been established by the court”.
Over the course of the Everton sale process, it is understood that multiple Everton bidders have become aware of the existence of this case.
One concern for bidders, which at least one group has discussed, is whether any payment to Moshiri is at risk of breaking sanction laws if the purchase money is used to pay damages to Usmanov — though one source close to Moshiri with knowledge of the case insists that UK laws and regulations would prevent him from paying damages.
This legal case being held behind closed doors, as well as the opacity of the judicial system in Russia, means it is difficult for prospective owners to know whether any resolution in the case had been reached.
The Athletic approached both representatives for Moshiri and Usmanov for comment. No response was received from Usmanov. A spokesperson for Moshiri declined to formally comment, but said that the court action was complete.
Moshiri’s side have characterised the case as the seizing of foreign investment in Russian companies under counter-sanctioning measures, supported by the country’s government. Russia has placed the UK on its “Unfriendly Countries List” owing to its stance on the invasion of Ukraine. The five per cent share was a personal asset of Moshiri, rather than Everton, and is understood to have held significant value.
Moshiri has been attempting to sell Everton since the conflict started in February 2022, but the process has been arduous. He had agreed a takeover deal with American investment group 777 Partners, only for that deal to collapse due to 777’s inability to achieve Premier League approval and the investment group’s own financial and legal issues.
The Friedkin Group subsequently entered a period of exclusive talks, but withdrew from negotiations last month, citing concerns about Everton’s debt to 777.
Currently, Crystal Palace co-owner John Textor is the frontrunner in the process, and is in the process of negotiating with both Moshiri and Everton’s creditors, but would need to sell his shares in Palace before finalising any deal.
https://www.nytimes.com/athletic/575825 ... ourt-case/
Alisher Usmanov and Farhad Moshiri court case adds to Everton takeover complications
Jacob Whitehead
Uzbek oligarch Alisher Usmanov has taken legal action against a company owned by Everton owner Farhad Moshiri, creating a complicating factor in the club’s already difficult takeover process.
Usmanov, 70, is the founder of the global conglomerate USM, whose companies provided sponsorship to Everton worth some £12m each year, as well as purchasing a first naming rights option on the club’s new stadium worth £30m.
However, that funding stopped in March 2022 when Usmanov was sanctioned by the United States, European Union, and United Kingdom following Russia’s invasion of Ukraine, with Usmanov described by the EU as a “pro-Kremlin oligarch with particularly close ties to Russian president Vladimir Putin”.
Moshiri made his money as the CEO of a number of Usmanov’s companies, including becoming chairman of USM Holdings in 2013, a role which he resigned once Usmanov was sanctioned.
Documents filed at Moscow’s Arbitration Court in September 2023, and seen by The Athletic, list Somelior Holdings Limited, a Cypriot-registered company owned wholly by Moshiri, as one of six defendants in a case brought by Usmanov and USM Holdings. Somelior Holdings previously held a 10 per cent stake in USM, which had gone down to five per cent prior to the sanctions.
According to the documents, Judge A.N. Petrukhina approved a motion to hold the hearing behind closed doors owing to “the presence of trade secrets in the documents to be examined”, which had “been established by the court”.
Over the course of the Everton sale process, it is understood that multiple Everton bidders have become aware of the existence of this case.
One concern for bidders, which at least one group has discussed, is whether any payment to Moshiri is at risk of breaking sanction laws if the purchase money is used to pay damages to Usmanov — though one source close to Moshiri with knowledge of the case insists that UK laws and regulations would prevent him from paying damages.
This legal case being held behind closed doors, as well as the opacity of the judicial system in Russia, means it is difficult for prospective owners to know whether any resolution in the case had been reached.
The Athletic approached both representatives for Moshiri and Usmanov for comment. No response was received from Usmanov. A spokesperson for Moshiri declined to formally comment, but said that the court action was complete.
Moshiri’s side have characterised the case as the seizing of foreign investment in Russian companies under counter-sanctioning measures, supported by the country’s government. Russia has placed the UK on its “Unfriendly Countries List” owing to its stance on the invasion of Ukraine. The five per cent share was a personal asset of Moshiri, rather than Everton, and is understood to have held significant value.
Moshiri has been attempting to sell Everton since the conflict started in February 2022, but the process has been arduous. He had agreed a takeover deal with American investment group 777 Partners, only for that deal to collapse due to 777’s inability to achieve Premier League approval and the investment group’s own financial and legal issues.
The Friedkin Group subsequently entered a period of exclusive talks, but withdrew from negotiations last month, citing concerns about Everton’s debt to 777.
Currently, Crystal Palace co-owner John Textor is the frontrunner in the process, and is in the process of negotiating with both Moshiri and Everton’s creditors, but would need to sell his shares in Palace before finalising any deal.
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Cereal Killer
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Re: End of Moshiri - Friedkin Purchase Falls Through
Again seems rather grasping
Moshiri isn’t sanctioned, so why wouldn’t anyone be able to pay him for his shares?
Moshiri isn’t sanctioned, so why wouldn’t anyone be able to pay him for his shares?
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Kerryblueboy
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Re: End of Moshiri - Friedkin Purchase Falls Through
I would buy shares in the club if I could fan ownership is a good thing
Re: End of Moshiri - Friedkin Purchase Falls Through
Nothing in it says this twitter account I am choosing to believe
Re: End of Moshiri - Friedkin Purchase Falls Through
Can you imagine the sheer relief when all of this absolute mind numbing tripe is finally over?