Everton Football Club have announced that majority shareholder Farhad Moshiri has increased his control in the club by almost 20%
Moshiri, who held 49.9 per cent of the shares through Blue Heaven Holdings Limited increased that figure to 68.6 per cent.
A further increase to 77.2 per cent is set to come before July 2019 in a deal which had been agreed when Moshiri bought a stake in the club in 2016.
The Iranian-born British businessman had been in talks with Bill Kenwright and Jon Woods regarding their shares after rumours over the summer suggested that Kenwright would be bought out completely.
According to The Times, Kenwright - the club’s chairman - has sold part of his shareholding to Moshiri for the increase but will retain around 5 per cent.
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Continuing to move forward
When he bought into the club in 2016, Moshiri brought with him great hope for the future for much of the Everton fanbase.
Kenwright labelled him as the “perfect partner to take the club forward” as Moshiri himself stated that he wanted to help “deliver success to Everton in the future.”
There have been plenty of ups and downs since that initial starting point over two years ago but the 63-year-old has not shied away from using his funds to move the club forward into the ‘modern game.’
The Blues have broken their transfer record a number of times under Mohsiri and he, again, delivered in the summer backing new boss Marco Silva on a number of key signings.
Moshiri’s increased holding in the club should help move the stadium project - which has been his key project since day one - along
Questions remain about the club’s new stadium at the Bramley-Moore Dock site but with a land deal agreed, multiple fan consultation groups with stadium architect Dan Meis and a Stadium Development Director appointed, progress has been signalled.
It has, undoubtedly, been slower progress than previously envisioned but the club hopes to announce further news in the near future, including key designs.
That, for Everton fans, will be major progress.