Iranian businessman becomes biggest shareholder of Everton

Premier League mid-table outfit Everton announced that the English football club has a new major shareholder, bringing the promise of new investment to Goodison Park here.

Iranian businessman Farhad Moshiri is to acquire 49.9 percent stake of the club, making him the biggest shareholder. The deal is conditional only on the Premier League approving his investment, Everton FC said in an official statement on Saturday, reports Xinhua.

Bill Kenwright, who will remain as chairman of the club, said: "After an exhaustive search I believe we have found the perfect partner to take the club forward. 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 commented: "I am delighted to take this opportunity to become a shareholder at Everton with its rich heritage as one of Europe's leading football clubs. There has never been a more level playing field in the Premier League than now."

"Bill Kenwright has taught me what it means to be an Evertonian and I look forward with excitement to working with him to help deliver success for Everton in the future."

Moshiri on Friday sold his stake in London club Arsenal for a reported 200 million pounds to business partner Alisher Usmanov. That sum also matches the 200 million pounds price tag for Everton.

On social media, Everton fans are welcoming the announcement, saying it could help boost the fortunes of the club, both on and off the pitch.