Farhad Moshiri has denied he was gifted money by Alisher Usmanov

Everton owner Farhad Moshiri has denied claims he was gifted funds by Arsenal director Alisher Usmanov which were ultimately used to purchase the Merseyside club in February 2016.

A further allegation was made in the BBC Panorama programme, Paradise Papers, that the company used to oversee the purchase of Everton was owned in part by Usmanov.

Usmanov has also denied the claims made in the television programme and he, as well as Moshiri, say the investigation is flawed.

The Premier League have also issued a statement clarifying their ownership rules.

"We would not disclose confidential information about clubs or individuals but can explain our general rules and policies in this area," the statement read.

Arsenal director Usmanov has also denied the claims

"The Premier League has wide-ranging rules in the areas of club ownership and finance. These include prospective new owners having to meet the Premier League Board and provide extensive detail on the sources and sufficiency of funding they have in place.

"They must also submit information on the financial structure of any proposed investment, and a business plan demonstrating that all liabilities can be met for at least 12 months ahead.

"The League prohibits any club owner or director from having an interest in another club, or the ability to influence another club's policies.

"Should a prospective club owner have previously held shares in a different club, they must provide evidence that they have been divested. Only when these and many other rules have been applied, and due diligence completed, will the Premier League Board allow an investment to proceed."