Fresh discussion about Farhad Moshiri and Everton has prompted questions over whether the club’s former majority shareholder could ever return.
Moshiri’s eight-year spell as owner ended in December 2024 when The Friedkin Group completed its takeover. Almost two years later, his name has surfaced again among supporters discussing Everton’s ownership and the future of the Hill Dickinson.
Moshiri return to Everton looks unlikely
Everton commentator Citizens of Suburbia has poured cold water on the prospect, arguing that there would be little financial sense in Moshiri returning after the losses he suffered during his time at the club.
“You don’t burn £750m, write almost all of it off, and then come back for a second helping,” he wrote on X.
The figure is broadly consistent with previous reporting. The Times reported that Moshiri faced losses of around £750m on his Everton investment, while he received only a fraction of that when TFG eventually bought the club.
Everton’s accounts also show that £450.7m of shareholder loans were converted into equity as part of the financial restructuring around the takeover.
TFG’s acquisition of a 98.8 per cent stake received Premier League approval in December 2024, bringing Moshiri’s spell as majority shareholder to an end.
Stadium and takeover would present further hurdles
Suggestions that Moshiri could return through the stadium are also far from straightforward. Everton have since secured £350m of long-term financing connected to the Hill Dickinson, repayable over 30 years. The deal refinanced borrowing used to complete the stadium and formed part of the wider financial restructuring under TFG.
Citizens of Suburbia questioned why Moshiri would want to spend heavily on an asset he had already helped finance during his time at Everton. “Moshiri would need to buy the stadium from the club and either settle the debt… or seek a change of control from lenders,” he wrote.
The precise change-of-control provisions attached to Everton’s current financing are not public, so it would be wrong to assume exactly how lenders would respond to any future takeover.
There would also be the Premier League to satisfy. A change of control requires approval from the league, with the threshold currently set at 25 per cent of a club’s shares.
Most importantly, there is no evidence at present that Moshiri is actually trying to return to Everton. After the money he lost, the sale to TFG and the subsequent refinancing of the club and stadium, there would be massive hurdles to overcome if that ever changed.
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