Everton’s majority shareholder Farhad Moshiri has assumed greater ownership of the club after significantly increasing his stake at Goodison Park.

Moshiri’s original purchase of the Merseyside club in 2016 secured 49.9 per cent of Everton. That has now risen to 68.6 per cent.

The businessman intends to increase this to 77.2 percent by July 2019. He has been in talks with chairman Bill Kenwright and deputy chairman Jon Woods in recent months as the duo looked to reduce their shareholding.

It is likely Moshiri has bought out Woods and another shareholder, Arthur Abercromby. While Kenwright will have sold some of his shares, he will retain a holding of around 5 per cent. Moshiri’s intention to increase his stake was flagged up at the time of his initial purchase.

Tuesday’s announcement will reassure Everton supporters of Moshiri’s long-term intentions, although there a pressing challenges remaining for the owner – particularly the delivery of a new stadium on Liverpool docks.

The club has recently undergone a restructure at boardroom as well as in footballing operations, with Denise Barrett-Baxendale appointed chief executive.