Farhad Moshiri bought 49.3% of Everton in early 2016, later purchasing more shares to give him 94.1% ownership in the Merseyside club. At the time the fans were excited about the new ownership. A chance for a club struggling to get a boost to challenge the bigger teams in the league to challenge those at the top.
But the Iranian businessman’s tenure has been marked by failed transfers, managerial instability, and financial mismanagement. Leading the club to a downhill slide that does not look to be ending any time soon. Many fans have been vocal about wanting Moshiri’s tenure to end but a proposed takeover from 777 partners leaves questions if the grass is always greener on the other side.
Farhad Moshiri Has Been Less Than Ideal at Everton
777 Partners has signed an agreement with Farhad Moshiri to acquire his full stake in Everton Football Club, which accounts for 94.1 per cent of the Club’s shares.
— Everton (@Everton) September 15, 2023
Failed Transfers
With substantial investment often comes big transfers, this was no different for Everton in the late 2010s after Moshiri’s takeover. Over the following four seasons, the club spent a total of £435 million on incoming transfers. In that time the club saw just under £260 million incoming from transfers. Leaving the club with a net loss of £175 million over that period.
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Despite this expenditure on the squad Everton have failed to reach the heights they thought they once would. Their position on the league table has followed a downward trend since Moshiri took over. A 7th place finish in his first term has yet to be topped and the Toffees find themselves in yet another relegation battle this campaign.
Managerial Instability
Over the eight-year period in which Moshiri has been at the helm, they have had eight different managers. Those in charge have ranged from Carlo Ancelotti to Sam Allardyce.
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Having a merry-go-round on hiring and firing has left many at Goodison Park wondering if the blame should be shifted to the board as the results continue to decline. It is not just the managers who have been coming and going, the director of football has also changed hands four times since 2016, which could be correlated with the failings in the transfer market.
Financial Mismanagement
Everton have been running at a loss for many years, but under this ownership, it has only escalated. Such expenditure has left the team facing two separate charges against the Premier League’s profit and sustainability rules. The first charge handed the club an unprecedented 10-point deduction that saw them plummet to 19th on the table.
The Toffees wage bill was an astronomically high 95% of turnover in the 2020/21 season. This is considerably larger than the recommended 70% sustainability in the Premier League. The costs leading to prospective owners having to commit over £142 million towards the club before the purchase.
