Iranian businessman becomes biggest shareholder in Everton FC

English premiership club Everton Saturday announced the club has a new major shareholder bringing the promise of new investment to Goodison Park in Liverpool.

Iranian businessman Farhad Moshiri is to acquire 49.9 percent stake in 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 the club's website.

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 in 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 200m pounds to business partner Alisher Usmanov, the Liverpool Echo is reporting this evening.

That sum also matches the 200m pounds price tag for Everton FC.

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. Endi