Everton Owner Farhad Moshiri to Commit a Further £250m to the Club

Everton owner Farhad Moshiri is said to be set to plough a further £250m into the club via a share issue as the club look to balance the books.

The Merseyside outfit have been far from thrifty in the transfer market in recent years, with a number of big-money signings arriving at the club including Gylfi Sigurdsson, Richarlison, Alex Iwobi and Yerry Mina.

Farhad Moshiri will invest more money in the club | Alex Livesey/Getty Images

However Everton's transfer indulgence is yet to reap on-field rewards, with the Toffees failing to finish higher than seventh in the Premier League since Moshiri first bought shares in February 2016.

Everton recently announced a loss of £139.9m in the financial year up to June 2020, though the impact of coronavirus did have a big part to play in the hefty loss, with £67.3m attributed to the affect of COVID-19.

The Times report that, in the wake of the catastrophic losses suffered, Moshiri will now commit £100m to the club, with the remaining £150m coming via previous shareholder loans being turned into equity in his company Blue Heaven Holdings Limited.

The cause of Everton's dire losses stretch far beyond just the impact of coronavirus and player acquisitions.

Marco Silva received a hefty pay-off from the club | Laurence Griffiths/Getty Images

Since Moshiri first began his association with the club just under five years ago, no fewer than five permanent bosses have taken the hot seat at Goodison Park. Roberto Martinez, Ronald Koeman, Sam Allardyce and Marco Silva have all been sacked by the club, with the latter receiving a pay-off of £6.6m

Everton's recent transfer splurges looked to finally be bearing fruit following a solid start to this season's Premier League campaign, which saw them take maximum points from their opening four league games.

However, Carlo Ancelotti's men have struggled to maintain their fine early season form and currently find themselves sitting in ninth position.

Source : 90min