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Everton owner injects £100million for increased control

Everton owner Farhad Moshiri

 

Farhad Moshiri has increased his controlling stake in Everton to 94 per cent by pumping in £100million of capital as he wrote to fans to address their mounting frustrations.

Moshiri, who bought into Everton in February 2016, has bought another 33,333 shares through the investment vehicle True Blue Holdings. This move was flagged when the club announced their financial results in December 2020 but the move reaffirms the Iranian’s commitment.

He has turned loans into shares to improve the club’s balance sheet and it helps Everton, who suffered a staggering loss of £139.9m for the financial year 2019-20, continue to steer their way out of the pandemic towards a future where they will move to a new stadium at Bramley Moore Dock.

It is the present that is of most concern to Evertonians, though, and Moshiri  who is looking for his sixth manager in six years  is aware of the discontent that reached a nadir last weekend when Rafa Benitez was sacked following a 2-1 defeat at Norwich.

Duncan Ferguson will be interim manager this weekend and there is no timescale for when or if  he will step aside for a new man. Everton have been linked with a number of candidates, from Wayne Rooney and Roberto Martinez to Frank Lampard and Fabio Cannavaro.

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In the letter, Moshiri says: It has been a difficult season to date – with results not meeting the expectations of anyone associated with the Club. As a result, the decision was taken last weekend to part ways with Rafa Benitez as our manager.

After a very disappointing run of results, it was the right decision for the Club – although it is never one that is taken lightly. As we prepare for our forthcoming games, we have a fiercely passionate Evertonian in Duncan Ferguson taking charge of the team on an interim basis.

 

 

 

 

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