Everton Football Club has announced a new major shareholder with the promise of new investment in the club.
Farhad Moshiri, the Iranian-British businessman and investor, will acquire 49.9% of the Premier League club, conditional only on the Premier League approving his investment.
Moshiri holds shares in numerous companies in the UK and Russia and is ranked as the UK’s 26th richest person by Forbes (2016).
A chartered certified accountant, Moshiri became co-owner of USM Holding together with Alisher Usmanov and billionaire Andrei Skoch to acquire a stake in Arsenal FC in November 2012.
In 2013, Moshiri and Usmanov upped their stake in Arsenal to more than 30% but have struggled for control of the club with its other main investor, American billionaire Stan Kroenke.
However, before the announcement at the weekend, Moshiri sold his stake in Arsenal to Usmanov, before paying a reported £87.5m for the Everton shares valuing the club at £175m.
In a statement, Everton 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, added: “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.”
