Farhad Moshiri has become the majority shareholder of Everton.

The Iranian billionaire has purchased 18.7 per cent, giving him a total holding of 68.6 per cent. He purchased the shares through Blue Heaven Holdings Ltd.

A club statement read: "Everton Football Club today announces that major shareholder Farhad Moshiri has further committed to and increased his shareholding in the club.

"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."