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Everton Football Club has a new investor. Yes, you read that correct.

Farhad Moshiri has bought a part of Everton earlier this afternoon. Yes, after over a decade of searching, Bill Kenwright has got an investor.

Morshiri is an Iranian billionaire businessman, to put it simply. He previously had shares in Arsenal, but sold his shares to Alisher Usmanov on Friday. According to Forbes, he is worth £1.3 billion and is the 894th richest man in the world.

On Saturday, it was confirmed that he had bought a 49.9% stake in Everton, with Bill Kenwright and Jon Woods owning the other 50.1%. Robert Earl sold his stake in the club as part of Moshiri coming in.

Reports were saying two American businessmen, John Jay Moores and Charles Noell were looking at buying Everton, but Moshiri has come our of the blue and swooped up half the club.

The 60-year-old is now the largest shareholder in Everton Football Club, and promises to bring investment and is hopeful for success.

The deal is said to be around £200 million initially, with more investment from Moshiri over time.

Bill Kenwright has said, “After an exhaustive search I believe we have found the perfect partner to take the Club forward. I have got to know Farhad well over the last 18 months and his football knowledge, financial wherewithal and True Blue spirit have convinced me that he is the right man to support Everton.”

Moshiri commented, “I am delighted to take this opportunity to become a shareholder in Everton, with its rich heritage as one of Europe's leading football clubs. There has never been a more level playing field in the Premier League than now. Bill Kenwright has taught me what it means to be an Evertonian and I look forward with excitement to working with him to help deliver success for Everton in the future.”

So - a quick recap of everything that's happened:

• Farhad Moshiri buys a stake in Everton Football Club and promises investment.
• Moshiri owns 49.9% of Everton. Bill Kenwright and Jon Woods own the other 50.1% between them.
• Robert Earl sells his stake in Everton as part of Moshiri deal.
• Bill Kenwright will continue as Chairman, Jon Woods will continue as Deputy Chairman and Robert Elstone will continue as CEO.