Everton’s majority shareholder, Farhad Moshiri, has told Marco Silva the club’s league position “is just not good enough” while claiming his latest managerial appointment retains the board’s total support.

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Moshiri told Everton’s general meeting he was confident the managerial team of the director of football, Marcel Brands, who has been appointed to the club’s board, and the chief executive, Denise Barrett-Baxendale, would deliver on his long-term project. That aim, according to the CEO, is “to win Premier League titles and compete regularly in the Champions League in a world-class, world-renowned football stadium” at Bramley Moore dock.

For Silva, however, there was clear instruction that results had to improve in the second half of his first season. Everton are 11th, having won once in eight league games, and have the same number of points as at the same stage of the last underwhelming campaign.

Moshiri, who admitted “bad luck and poor judgment” had featured in his £250m investment so far, said: “We did our homework and we put a big bet on Marco and we stick with him. He has our total support and we have a professional in Marcel Brands who monitors the progress. Consistency has been an issue but we have had some terrific performances and the challenge in the second half is to have more of those performances. The football management team are totally focused on it. We know what we are and I’m comfortable.”

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Everton’s majority shareholder insisted the proposed £500m stadium project would proceed, though the deputy chairman, Keith Harris, warned of challenges regarding Brexit, inflation and heritages issues on the waterfront site.

Moshiri added: “It is not just rhetoric [about the stadium]. We are very serious about what we want to do. I know, I am a fan myself. I look at the table and it is just not good enough, I think we know that. We need to go up the table. We need to utilise the fans’ impatience to drive the club but we need to be patient for development.

“We have a lot of experience so I think we will complete this stadium. Be sure that will happen. And I will throw as much money as needed. Private markets will provide £350m, naming rights will give us some more and we will maybe have an equity gap of £100m. I think this club under the management of Marcel and leadership of Denise is sufficiently robust to see the project through. It is no luxury, we have to get it done. If we want to have a big club we need a modern stadium and we will get it.”