Farhad Moshiri becomes Everton's majority shareholder after increasing shares
Moshiri increases Everton shareholding from 49.9 per cent to 68.6 per cent
Last Updated: 11/09/18 12:46pm
Farhad Moshiri has become Everton's majority shareholder after increasing his stake, the club has confirmed.
The Iranian billionaire has purchased 18.7 per cent, through Blue Heaven Holdings Ltd, giving him a total holding of 68.6 per cent.
Moshiri, who first invested in the club in February 2016 after selling his stake in Arsenal to business partner Alisher Usmanov, is expected to increase to 77.2 per cent no later than July 2019.
A club statement read: "Everton Football Club today announces that major shareholder Farhad Moshiri has further committed to and increased his shareholding in the club.
"Farhad Moshiri previously owned 49.9 per cent of the club and in line with the agreement made at the time of his original investment, he has purchased 18.7 per cent through Blue Heaven Holdings Ltd, giving him a total holding of 68.6 per cent, which is expected to increase to 77.2 per cent no later than July 2019."
Moshiri had the option to buy additional shares from Jon Woods, Arthur Abercrombie and club chairman Bill Kenwright in July 2019 but that has been brought forward as Everton search for the funds needed to build their new home in Liverpool's docks.
Woods and Abercrombie have sold their equity, while Kenwright has sold some of his shares in the club with the rest to be bought by Moshiri by July 2019.
It is understood Evans will remain on the Everton board, despite reports to the contrary.
Moshiri is keen to assure potential investors in the stadium, which presently has a price tag of between £400m and £500m, that he is fully committed to the club and in full control of its future direction.
Sky Sports News understands the club is aiming to apply for planning permission in the next few weeks and hope to have planning granted next summer.
No construction company has yet been appointed but Everton are hoping to begin the 2022-23 campaign in the stadium at Bramley Moore dock on the banks of the Mersey.