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The New Arab

Iranian-British businessman set to buy Premier League club Everton

Moshiri has bought a huge stake in English football club Everton [Getty]

Date of publication: 27 February, 2016

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One of the world's oldest football clubs, Everton, is set to receive a major cash injection thanks to an Iranian-British businessman.

An Iranian businessman looks set to buy out one of England's best known football teams.

Farhad Moshiri's offer to purchase a 49.9 percent stake in the Liverpool-based club has been accepted by Everton officials, and is now waiting approval from the Premier League.

Moshiri joins Manchester City owner Sheikh Mansour al-Nahyan - from the UAE - in owning one of sports' most exclusive clubs.

Billionaire Moshiri is listed as the 894th richest men in world by Forbes with a net worth of $1.79 billion. Moshiri holds joint British and Iranian nationalities, and owns stakes in a number of steel and energy companies in Russia and the UK.

He recently sold shares in Premier League rival Arsenal to his Russian business partner, and now looks set to invest his cash into the mid-table The Toffees.

This marks a long search for an investor in the Liverpool-based club, which is one of England's most successful football teams. 

Everton has been suffering from mediocre performances of late and not picked up a trophy since the FA Cup in 1995. 

It is still one of the best known and well supported clubs in England, and supporters hope the cash injection will help the team invest in new players.

Chairman Bill Kenwright says he is happy with the offer and believes Moshiri has what it takes to make to make Everton a league leader again.

"After an exhaustive search I believe we have found the perfect partner to take the club forward," said Kenwright.

"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 too is relishing the challenge of transforming Everton into a leading English club again.

"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."

There are rich rewards for businessmen investing in England's top flight football teams.

The English Premier League is the third highest grossing sports' leagues in the world after the US' National Football League and Major League Baseball.

Premier League clubs brought in $4.7 billion in the 2013-14 season. This is set to rise after a three-year TV deal was announced, which could make English clubs as much as $11 billion.

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