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Everton announce substantial investment from Iranian businessman

Goodison Park

LIVERPOOOL - AUGUST 28: General view of Goodison Park taken during the FA Barclaycard Premiership match between Everton and Birmingham City played at Goodison Park in Liverpool, England on August 28, 2002. The match ended in a 1-1 draw. (Photo by Laurence Griffiths/Getty Images)

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Everton Football Club has a new major shareholder who will bring major investment to the club.

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On Saturday the Goodison Park outfit announced that Farhad Moshiri has become the new major shareholder, acquiring 49.9 percent of the club.

The deal is conditional to Premier League approval but if it does go through then the British-Iranian businessman will be allowed to pump significant funds into the Toffees.

A former shareholder of Arsenal, Moshiri, 60, currently resides in Monaco and owns shares in numerous steel and energy companies in both the UK and Russia.

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He has a net worth of $1.93 billion and to fund this deal he recently sold his shares in Arsenal to one of his business partners, Alisher Umanov, who then subsequently increased his own share in the Gunners.

In a statement Everton chairman Bill Kenwright -- who has been searching for new investment for quite some time as several parties from the U.S. were said to be interested -- announced his excitement about Moshiri’s arrival.

“After an exhaustive search I believe we have found the perfect partner to take the club forward,” Kenwright said. “I have got to know Farhad well over the last 18 months and his football knowledge, financial wherewithal and True Blue spirit have convinced me that he is the right man to support Everton.”

Moshiri added that he is “delighted to become a shareholder in Everton with its rich heritage as one of Europe’s leading clubs.”

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