Billionaire Farhad Moshiri's investment in EPL side Everton has been approved by the Premier League, the club announced, according to the PA. The 60-year-old, whose personal wealth is estimated at £1.3B ($1.85B) according to American business magazine Forbes, "has been given the go-ahead" to complete the purchase of a 49.9% stake in the Merseyside club.The Toffees announced the Iran-born Briton's new investment late last month and he could now attend Saturday's FA Cup quarterfinal with Chelsea at Stamford Bridge. Manager Roberto Martinez "hailed the arrival of Moshiri and believes the billionaire’s investment in Everton heralds a new era for the club." Moshiri, who is committed to providing "the kind of funds that will enable Everton to make a significant impact in the transfer market," met Martinez and said he had "fallen in love" with the club (PA, 3/8). The BBC's Phil McNulty reported the deal, "and its ratification," ends a "decade-long search for investment" by Chair Bill Kenwright. Moshiri's approval "was a formality given his association with Arsenal" but the Premier League needed to conduct checks for the Owners' and Directors' Test before confirming the deal. Moshiri bought the 23% holding of former Everton Dir Robert Earl while Kenwright and board member Jon Woods "diluted their shares to make up the rest of Moshiri's purchase" (BBC, 3/8).
