Maguire hails 'benevolent dictator' Moshiri after huge Everton cash injection
Farhad Moshiri is a “benevolent dictator” and his recent share increase in Everton is good news for fans.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after the majority stakeholder increased his equity in the club to 92.2 per cent, a 15 per cent increase on his previous share.
The British-Iranian tycoon pumped £200million into the club in the process, with £100m of this accounted for by a loans-to-equity deal.
The 65-year-old also followed up a £50m cash injection in November with a further £50m float last month.
The shares issue was voted on by shareholders but Moshiri already owned a controlling stake and was therefore never in danger of losing.
Maguire claims Everton are in safe hands under the well-intentioned Moshiri and that this share increase will streamline the running of the club.
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He told Football Insider correspondent Adam Williams: “You want a benevolent dictator in charge of a football club, that’s the best model.
“The rationale of Moshiri’s relationship with Everton is that he wants to move it on to a new level and has the capacity to do so with his wealth.
“The downside means that existing shareholders’ investment in Everton is diluted. But once you’ve got gone beyond 75 per cent, there isn’t much other shareholders can do anyway.
“I think it’s good news because, provided he’s got good intentions, it’s easier to make good decisions because there’s less dissent.”
Everton posted a whopping £139.9m annual loss in December and have turned a profit just once in the last six seasons.
The long-term vision is sustained success and European qualification, witnessed by fans at the recently-approved £500m Bramley Moore Dock stadium.