Everton have confirmed the sale of a 49.9% stake in the club to British-Iranian businessman Farhad Moshiri. The 60-year-old has an estimated net worth of £1.3bn.
The news comes instead of a rumoured expected takeover from an American consortium, with talks also having been held with Chinese-based investors and one wealthy individual from Jordan.
In a statement Everton chairman Bill Kenwright who has been searching for new investment for quite some time as several parties from the U.S. were said to be interested announced his excitement about Moshiri’s arrival.
“After an exhaustive search I believe we have found the perfect partner to take the club forward,” Kenwright said. “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 that he is “delighted to become a shareholder in Everton with its rich heritage as one of Europe’s leading clubs.”
Bill Kenwright will continue in his role of chairman, having initially been elected to the board in 1989 and buying the club outright for around £20m 10 years later.
Moshiri, who was until recently a shareholder at Arsenal, told the Toffees’ official 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,” he added.
“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.”
