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‘Determination to deliver’: Farhad Moshiri increases Everton stake to 94%

Everton owner’s, Farhad Moshiri, has increased his shareholding to 94% after converting another £100m loan into equity.

The Iranian businessman, who has spent more than £500m on transfers since his £200m takeover in 2016, is converting loans from his Blue Heaven Holdings into equity.

Last February 100,000 shares were issued and he has purchased the final third of those, having acquired 66% 12 months ago.

The move, announced in a letter to fans, provides a much-needed boost to Everton’s finances after a combined £265m loss for the past three financial years.

“I write to you to assure you that my commitment remains strong and focused,” Moshiri said in his letter. “The club has announced today the conversion of a 100m loan to the club into equity which is a clear demonstration of my commitment and greatly strengthens the balance sheet.

“I am a private man and I do not speak publicly very often. But I promise you that my determination to deliver for Everton will not waiver.”

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