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SBD Global/November 7, 2017/Finance

Farhad Moshiri Says He Bought Everton Stake With His Own Money

Farhad Moshiri "insisted his stake in Everton was bought with his own money" after questions were asked about his link to Arsenal investor Alisher Usmanov, according to the PA. Sunday night's BBC Panorama program was based on leaked documents known as the Paradise Papers and examined Usmanov's "business relationship with Iranian-born Moshiri," Everton's biggest shareholder. The pair jointly held a 30% stake in Arsenal before Moshiri sold his shares to Usmanov in Feb. '16. Moshiri subsequently purchased 49.9% of Everton. Panorama "looked at whether an alleged Usmanov gift had financed Moshiri's initial holding in Arsenal," and whether his wealth "may have therefore been used to fund the Everton deal." The BBC program asked Moshiri if the money he used to invest in Everton "had originated with Usmanov." That is "a claim which Moshiri strenuously denies." He said, "Of course it didn't. Not at all, no. It came from me. I had 10 percent in a conglomerate way before I bought [into] Arsenal. That's my money" (PA, 11/6).
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