Farhad Moshiri loses £70m as Everton owner edges closer to sale decision

Everton owner Farhad Moshiri has fallen seven places in the annual Sunday Times Rich List for 2023.

The 68-year-old, who has owned the Blues since 2016 but is currently edging closer to either a partial or full sale of his 94 per cent shareholding in the club, is the 112th richest person in the UK, according to the recently published list of the top 350 by the national newspaper.

Moshiri, who as well as having a majority stake in Everton also has business interests in metals and mining, telecom, internet and technology, has seen his wealth fall by £70m over the course of the past 12 months, taking his net worth to £1.63bn, according to the list published earlier this week.

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The fall in net worth for the British-Iranian businessman comes after last year’s drop of £300m, seeing him fall 23 places from his position on the 2021 list inside the top 100.

The military invasion of Ukraine by Russia early last year saw Moshiri step down from the board of USM Holdings as he sought to distance himself from his friend and long-time business associate, Alisher Usmanov, who was sanctioned by UK Government due to his historical ties to Russian president Vladimir Putin. Moshiri did, however, retain his five per cent stake in USM.

The past 12 months has been a bruising one for Moshiri at Goodison Park, with the club having scraped clear of relegation last season only to find themselves in a dogfight to avoid a potentially catastrophic drop into the Championship this time around.

Everton’s finances have come under scrutiny and they were charged by the Premier League with an alleged breach of financial fair play rules in March. The Blues have recorded huge losses of £372m over the past three years, in excess of the £105m limit that clubs can spend. Everton have refuted the alleged breaches by the Premier League and will make their case to an independent commission at an as yet unspecified date.

As this rumbles on, Moshiri is in talks with parties interested in either a full takeover of the club or a partial stake. In recent days, Miami-based 777 Partners and New York investment fund MSP Sports Capital have been reported to have agreed non-binding deals in principle for the club with caveats attached. The main caveat will undoubtedly be that the club remains a member of the Premier League beyond the end of this season.

Despite the financial challenges, on-pitch struggles and takeover talk, Moshiri has pressed ahead with the 52,888-seater stadium at Bramley-Moore Dock, scheduled to open later next year, with Everton adamant the project remains on track despite the final tranche of funding yet to be secured.

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