Farhad Moshiri, the majority owner of Everton, has increased his stake to 77.2 per cent, the club have confirmed, reports, www.sportspromedia.com/.
The British-Iranian billionaire businessman initially bought 49.9 per cent worth of the club's shares in February 2016 before increasing this to 68.6 per cent in September 2018.
Upon taking his percentage share up to 68.6, Moshiri confirmed he intended to take it beyond 75 per cent by July 2019.
The 8.6 per cent of increased shares have been bought off of minority shareholder Lord Grantchester.
A club statement read: 'Everton Football Club today announces that majority shareholder Farhad Moshiri has increased his shareholding in the club to 77.2 per cent. This increase is consistent with the announcement of September 2018 that he expected that to increase to 77.2 per cent by no later than July 2019.'
Lord Grantchester added: "The agreement today of the sale of my family's shares in Everton is in the best long term interests of the club.
"It is made in support of the leadership of chairman Bill Kenwright and majority shareholder Farhad Moshiri with their ambitious and exciting plans both on and off the pitch."
Kenwright himself owns around five per cent of shares with various other stakeholders making up the remaining 17 per cent.