London: Everton's majority shareholder Farhad Moshiri has significantly increased his control of the Premier League club after acquiring a larger stake on Tuesday.
Moshiri has bought another 18.7 per cent of Everton's shares through Blue Heaven Holdings Ltd.
The Iranian businessman already held 49.9 per cent of Everton after selling his stake in Arsenal to take charge at Goodison Park in February 2016.
Moshiri, whose personal wealth is estimated at $1.7 billion (1.47 billion euros) according to Forbes, has taken his total holding to 68.6 per cent.
He is expected to elevate that further to 77.2 per cent by July next year.
"Everton Football Club today announces that major shareholder Farhad Moshiri has further committed to and increased his shareholding in the club," an Everton statement read.
"Farhad Moshiri previously owned 49.9 per cent of the club and in line with the agreement made at the time of his original investment, he has purchased 18.7 per cent through Blue Heaven Holdings Ltd, giving him a total holding of 68.6 per cent, which is expected to increase to 77.2 per cent no later than July 2019."