Everton majority shareholder Farhad Moshiri has increased his shareholding in the Toffees to 77.2%.
In a statement, the club confirmed that Moshiri has bought 8.6% from the Grantchester family.
Speaking about the sale, Lord Grantchester, the grandson of former Everton chairman Sir John Moores, told Alan Myers:
“The agreement today of the sale of my family’s shares in Everton Football Club is in the best long term interests of the Club
“It is made in support of the leadership of Chairman Bill Kenwright and majority shareholder Farhad Moshiri with their ambitious and exciting plans both on and off the pitch”
Moshiri first purchased 49.9% of the club for around £80million back in February 2016 after selling his stake in Arsenal. It came with the agreement that the Iranian-born businessman would increase that shareholding over time.
In September 2018 Moshiri bought a further 18.7% from chairman Bill Kenwright and board member Jon Woods to increase his stake to 68.6%. That followed a boardroom reshuffle the previous May that saw Alexander Ryazantsev and Dr Keith Harris joini the board, Robert Elstone leave for Super League and Prof Denise Barrett-Baxendale promoted to chief executive.
At that time it was confirmed Moshiri intended to increase his stake still further to 77.2% before the end of July 2019.
Kenwright has retained around 5% of the remaining shares with other minor shareholders making up the remaining 17%.
Lord Grantchester has told me: “The agreement today of the sale of my family’s shares in Everton Football Club is in the best long term interests of the Club. 1/2— Alan Myers (@ALANMYERSMEDIA) June 6, 2019
2/2 Lord Grantchester: “It is made in support of the leadership of Chairman Bill Kenwright and majority shareholder Farhad Moshiri with their ambitious and exciting plans both on and off the pitch”— Alan Myers (@ALANMYERSMEDIA) June 6, 2019
100% of the club’s shares no longer exist, with some having been lost to people who have died without family or during World War 2.
Moshiri has invested significantly in the club since his arrival three-and-a-half years ago, 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.
The club are planning to reveal the first images of the proposed new stadium next month ahead of a second public consultation. They then hope to secure funding and submit planning permission before the end of the year.
On the pitch Moshiri has also invested significantly with mixed success. An expensive - and ultimately reckless - outlay in the summer of 2017 saw the squad become bloated and ill-balanced, with manager Ronald Koeman sacked in October of that year.
Sam Allardyce was an unpopular replacement with Moshiri since admitting he panicked, fearing for the club’s Premier League status. The former England boss was sacked at the end of the 2017-18 season and replaced by Marco Silva, with Marcel Brands also arriving as director of football to succeed Steve Walsh.