Everton Football Club have announced that there will be a takeover done at Goodison Park with Farhad Moshiri buying a 49% stake in the club.
The deal will be completed as soon as the Premier League complete their “fit and proper” testing and comes after months of speculation surrounding the future of Everton.
Moshiri is worth around £1.8bn and brings the promise of new investment into the club.
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.”
Everton’s new major shareholder, Moshiri commented: “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.”