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Moshiri kicking off Everton Board reshuffle by increasing shareholding

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Plan in place to buy out Deputy Chairman Jon Woods

Everton v Arsenal - Premier League
Moshiri seen here with Woods
Photo by Ian MacNicol/Getty Images

UPDATE: The Daily Star are finally catching up to this story!

Farhad Moshiri has only technically been the majority shareowner at Everton for the last two plus years with his 49.9% stake, but is now looking to increase that holding up by buying out the Club Deputy Chairman Jon Woods as is being reported by the Times (paywall).

Woods, a former UK based video game producer, has been at the club since March 2000 and will be stepping down from the Board following the sale of his shares in the club, which would get Moshiri up to 58.9% ownership of the club and officially the majority shareholder.

There have been rumours aplenty for the last few months that all sorts of change is afoot in the Everton boardroom this offseason, with Chief Executive Robert Elstone set to leave the club, Chairman Bill Kenwright heavily rumoured to be stepping down, Woods’ sale of his shares, and the Director of Football and Manager positions also likely to have turnover too with incumbents Steve Walsh and Sam Allardyce under fire following a poor season.

Over the last couple of years there have been changes to the Board structure as well, with Moshiri elevating Elstone and bringing in his own financial expert Sasha Ryazantsev, as well as promoting head of Everton in the Community Denise Barrett-Baxendale to Deputy CEO.

Moshiri paid over £80million to secure his 49.9% holding back in February 2016, and since then has continued to invest in the club, including the planning for construction of a new stadium at Bramley-Moore docks, upgrades of the existing facilities at Goodison Park and Finch Farm, as well as purchasing the Royal Liver building on the banks of the Mersey among other financial outlays.

Kenwright is the only other shareholder with more than 5% stake in the Club, with a 12.2% holding. It is not clear whether he will sell those on to Moshiri if and when he leaves Everton.