Everton hope for investment boost after major deal
A FORMER Arsenal investor Farhad Moshiri has agreed a major investment deal at Everton Football Club, which values the club at £200m.
Moshiri, an Iran-born former accountant and associate of Arsenal shareholder Alisher Usmanov, struck a deal to buy 49% of the club on Saturday.
The takeover will see Everton’s owners, including chairman Bill Kenwright and software entrepreneur John Woods, sell a large chunk of their holdings to Moshiri.
Moshiri and Usmanov had jointly owned 30% of the Gunners until Moshiri sold his 15% stake, worth about £150m, to Usmanov to free up cash for the Everton deal.
Theatre impressario Kenwright is expected to stay on as Everton chairman and continue to own a stake in the club.
The deal brings an end to a long search for new investors. Kenwright has courted several suitors for the club in recent months.
Everton agreed a brief period of exclusivity with American investors John Jay Moores and Charles Noell, but the parties were unable to agree a deal. Chinese investors are also understood an interest too.
In a statement Everton said the new shareholder “brings the promise of new investment.”
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.”
Moshiri added: “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.”
High on Moshiri’s agenda will proposals for a new stadium, but funding such a major investment will be key to this happening.
