Everton announced yesterday that former Arsenal part-owner Farhad Moshiri was taking over as the major stockholder at the club. The Iranian businessman has purchased 49.9% stake at the club. He had earlier sold off his stocks in the Gunners to be able to complete this purchase by Premier League rules.
Planet Hollywood mogul and American businessman Robert Earl is reported to have given up his 24% stake at the club, but it is not clear whether he will be leaving the club or will remain on the Board in a ceremonial capacity.
Bill Kenwright held 26% and fellow Board member Jon Woods held 19%, but both have reduced their shares to accommodate for the remaining 25.9% to make up Moshiri's total. Among the minor owners at the club, Lord Granchester has 9 per cent, and the rest is owned by small stakeholders.
While the new ownership percentages for the remaining current owners is yet to be announced, it is expected that the picture will clear up once the Premier League has sanctioned the buyout.
What is interesting to note is with Moshiri holding 49.9% of the ownership, he can be outvoted should he choose to make some unpopular decisions. On the flip side, he can combine with the small stakeholders and easily make the 50.1% that would be required to make some controversial decisions, like removing anyone of their choosing from the Board, for example.