Farhad Moshiri to exit Everton with fraction of original investment

Full extent of tycoon’s spending on Merseyside club has never been disclosed but it ran into hundreds of millions

Farhad Moshiri will walk away from Everton with an initial payment in the region of £25 million having seen his huge Goodison investment go up in smoke.
The majority shareholder is waiting for the sale of a 94.1 per cent stake to the Friedkin Group to be ratified by the Premier League having agreed a massive drop in the club’s valuation due to huge debts accrued during the course of his eight-year reign.
His remuneration may increase in the coming years depending on how successful Everton are under their new American owners, and the potential earnings of the stadium at Bramley-Moore dock. Moshiri agreed a similar incremental deal with 777 Partners last season but they could not get the deal over the line.
Billionaire Dan Friedkin’s buy-out is not expected to encounter the same issues.
Moshiri purchased a 49.9 per cent share of Everton in 2016 just days after selling a 15 per cent share of Arsenal to his business associate, Alisher Usmanov, for £200 million. He incrementally increased that Goodison shareholding over subsequent years.
The full extent of Moshiri’s investment into Everton has never been disclosed, but it was certainly hundreds of millions.
Most of his fortune was plundered during the early years when he ploughed in at least £150 million to subsidise the signing of manager Ronald Koeman and meet the costs of a wage bill which spiralled by 40 per cent in Moshiri’s first two years.
Excessive spending continued under Sam Allardyce and Carlo Ancelotti, while there were severance payments totalling a combined £50 million to the coaches Moshiri sacked including Roberto Martinez, Koeman, Marco Silva, Allardyce, Rafa Benitez and Frank Lampard.
Despite the club failing to deliver on Moshiri’s investment, he did not U-turn on his pledge to find the funds to pay for the £500 million new arena.
The loans required to pay for it — and assorted other debts — effectively removed any chance of Moshiri recouping his cash.
The Friedkins have secured a deal by guaranteeing the funds to pay off the loans to insurers A-Cap and Rights and Media Funding.
The Friedkin Group has already promised to ensure Everton’s stadium opens on schedule for the start of next season having committed £200 million into the club for the arena and associated running costs.
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