Everton owner Farhad Moshiri has pumped another £200million into the club, new documents reveal today.
The Merseysiders have issued 66,667 shares at £3,000 each in a capital restructuring that has been approved by shareholders.
The document released to Companies House on Friday shows that Moshiri’s investment vehicle Blue Heaven Holdings has increased its stake in the club to 92.2 per cent.
It already had majority control with a 77.2 per cent stake through the previous share divide.
As a result of the share allocation voted on by shareholders on 17 February, the Everton balance sheet will see an injection of £200m of equity.
The £200m will consist of £50m in cash received in November 2020 and £50m of cash received last month.
The new share issue increases Moshiri’s investment in Everton to £450m since he first bought into the club in February 2016.
He has underwritten huge losses at Everton over the last five years.
The club announced a whopping £140m loss in their most recent set of financial results, the third biggest in Premier League history.
The Merseysiders have reported steep losses five times in the last six seasons, with the sole exception being a £31m profit in 2017.
In 16 years since 2005, the club has only been profitable on four occasions times.
🏟 | A stadium update to all fans from our CEO.#EFC 🔵
— Everton (@Everton) February 15, 2021
The refinancing comes after Everton’s proposed £500million Bramley Moore Dock Stadium was recommended for approval by Liverpool city council ahead of a potential 2024-25 opening.
The stinging financial consequences of the pandemic had led to speculation that only a fire sale of talent would enable the club to spend big again this summer.