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Farhad Moshiri becomes major shareholder at Everton

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The former Arsenal shareholder has become a new major shareholder at the club.

Clive Brunskill/Getty Images

Everton have confirmed that former Arsenal shareholder Farad Moshiri has completed a deal to become a major shareholder of the club. Here is a profile of the Iranian businessman published earlier.

A report on Friday from the Daily Mail had revealed that the Blues were set to be bought by a mysterious Middle Easter consortium following talks with Bill Kenwright.

That was later followed by a report from the Telegraph, who claimed that former Arsenal shareholder Farhad Moshiri had manoeuvred himself into a position to take control of the Blues ahead of other potential bidders.

It was not expected that his takeover would be confirmed until next week at the earliest, but the club have now confirmed that Moshiri has become a new major shareholder, promising investment in the club.

At present it is unknown whether Moshiri is operating on his own of has formed a group to buy the club.

But commenting on the purchase, he says he is delighted to have become a major shareholder at the club, via the club's official website.

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."

His move to Goodison Park comes after he recently sold shares in Arsenal to second highest shareholder Alisher Usmanov.

It is believed he decided to sell his 15% stake in the club after he reportedly grew disillusioned by a lack of control at the club.

And it seems his move for the Blues has been long in the making, with Bill Kenwright commenting that he has gotten to know the new owner well over the last 18 months.

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."