Farhad Moshiri increases stake in Everton to become club's majority shareholder

Everton announced that the Iranian billionaire has increased his 49.9% to 68.6%, with plans to further increase his share to 77.2% before July 2019

Farhad Moshiri has increased his shareholding of Everton Football Club to become the majority shareholder.

Everton announced that the Iranian billionaire has increased his 49.9% to 68.6%, with plans to further increase his share to 77.2% before July 2019.

Moshiri first invested in the club in February 2016, having sold his investment in Arsenal to his business partner Alisher Usmanov, complete with an agreement that he would increase his share over time.

Farhad Moshiri has increased his control over Everton (Getty Images) (Getty)

Moshiri will now assume even greater control, which will reassure supporters of his long-term commitment as the club considers an ambitious project to build a new ground at Liverpool docks.

In a club statement, Everton confirmed: “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.”