Everton announced major shareholder and investor Farhad Moshiri increased his ownership of the club "above 50% with the purchase of a further 18.7% of the shares," according to David Conn of the London GUARDIAN. The club confirmed in a statement that Iranian-born Moshiri agreed to extend his shareholding, which is held via his Isle of Man-registered company, Blue Heaven Holdings. He first bought 49.9% of the club in March '16. At that time, documents registered in the Isle of Man showed that Everton's three remaining substantial shareholders, Chair Bill Kenwright, Dir Jon Woods and long-term shareholder Arthur Abercromby, agreed to sell further shares to Moshiri. The club said that Moshiri expects to purchase further shares and take his ownership above 75%, "effectively the threshold for decision-making control, by July next year." No confirmation was given of the price Moshiri paid to the three shareholders "or in what proportions they have sold their shares this time." He paid £87.5M for his original 49.9% stake, valuing the club at £175M. At that time, Kenwright sold around half of his 26% stake, being paid approximately £22.75M, and he retained 13% "until this latest sale" (GUARDIAN, 9/11). In London, Chris Bascombe reported it is "likely" Moshiri "bought out" Woods and Abercromby. While Kenwright will have sold some of his shares, he will retain a holding of around 5%. The club recently underwent a restructure in the boardroom as well as in footballing operations, with Denise Barrett-Baxendale appointed CEO. Moshiri invested in Everton two years ago following a "long-standing interest in Arsenal," where he worked alongside Alisher Usmanov (TELEGRAPH, 9/11). In London, Paul Joyce reported Moshiri's move represents a "statement of his intent in many respects." Everton is in talks about a £500M ($650.5M) move from Goodison Park to a proposed state-of-the-art arena in Bramley Moore dock and the fact that Moshiri has increased his holding "should help in the financing of the venture" (LONDON TIMES, 9/11).
