Everton owner Farhad Moshiri has invested an additional $135 million in the Premier League club, increasing his stake to 94%, up from the 66% stake he previously owned.
Moshiri bought Everton in 2016 for $270 million and has since spent more than $674 million to improve the club through the transfer market. The Iranian businessman will fund his latest investment by converting loans from his Blue Heaven Holdings company into equity.
Everton will use the funding to improve the club’s transfer options and support the construction of its new stadium.
- Last August, Everton began construction on the $693.7 million project located in the Bramley-Moore Dock area of Liverpool.
- Russian holding company USM secured naming rights to the stadium in a 10-year, $277.5 million deal.
Moshiri’s injection of fresh capital comes after Everton posted a combined loss of $357 million for the last three financial years.
The club lost $194.1 million in the 2019-2020 season, per Deloitte. That was the worst hit among all Premier League clubs, which collectively lost roughly $1.4 billion that season.
More Poor Results
Last week, Everton parted ways with manager Rafa Benitez after only 200 days in the role, citing results that failed to “meet expectations of anyone associated with the club.”
Benitez was Everton’s sixth manager since 2017.