Everton have announced the arrival of Farhad Moshiri as a new major shareholder at the club, following weeks of negotiations.
There had been reports over the past weeks that the Premier League club will be taken over by a new investor and after several bids and negotiations, the club have confirmed Moshiri will acquire 49.9 percent of the club, subject to the approval of the Premier League body.
The Iranian is a former shareholder at another Premier League club, Arsenal, and he has beaten out an American consortium led by John Jay Moores in the race to invest in Everton.
Toffees chairman Bill Kenwright said: “After an exhaustive search I believe we have found the perfect partner to take the club forward. I have got to know Farhad well over the last 18 months and his football knowledge, financial wherewithal and True Blue spirit have convinced me that he is the right man to support Everton.”
Moshiri was quoted in a statement on the club’s website: “I am delighted to take this opportunity to become a shareholder in Everton, with its rich heritage as one of Europe’s leading football clubs. There has never been a more level playing field in the Premier League than now. Bill Kenwright has taught me what it means to be an Evertonian and I look forward with excitement to working with him to help deliver success for Everton in the future.”
Moshiri, a British-Iranian who lives in Monaco, sold his stake in Arsenal to his business partner Alisher Usmanov.