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Farhad Moshiri'sEverton investment has been officially ratified by the Premier League.

The Iranian billionaire's purchase of 49.9% of the club's shareholding has been on hold for a week until the league gave it the green light.

Today it was confirmed that Moshiri passed the Owners' and Directors' Test, a checklist the Premier League goes through before allowing a deal of this nature, and his place at Goodison has been confirmed.

For Moshiri'spurchase of nearly half the shares at Everton to go through, the authority had to check he has no influence at any other club or own shares in another team.

The 60-year-old did have a 15% stake in Arsenal until a fortnight ago, when he sold his shares to business partner Alisher Usmanov to pave the way for his switch to the Blues.

They also had to check that Moshiri, who has made his reported £1.3bn fortune mainly through investing in Russian steel and mining companies, had never fallen foul of the Company Directors Disqualification Act of 1986 and been prohibited by law from being a company director.

The Premier League's list also states that for Moshiri to take his place on the Everton board then he cannot have be the subject of such things as debt relief orders, administration orders or debt management schemes.

As previously confirmed in the ECHO, Bill Kenwright and deputy chairman Jon Woods have diluted their shareholding, while the remainder of Moshiri’s stake is made up of Robert Earl’s 23% interest.

There is also an agreement in place for Moshiri to buy more shares and become the club’s full majority shareholder owner, rather than largest shareholder in the future.