Everton have confirmed that Farhad Moshiri has decided to increase his shareholding in the club.

The majority shareholder owned 49.9 percent of the club initially and he splashed out on another 18.7 percent through Blue Heaven Holdings Ltd.

The latest acquisition will take his shareholding to 77.2 percent no later than July 2019.

Everton fans seem quite happy and excited about the news of Moshiri’s latest commitment towards the club. The Toffees will need investment in order to compete in the league and Moshiri taking over the majority of the shares will only benefit them financially.

The majority shareholder has invested heavily in the squad since taking over and the Toffees will be hoping to have an impressive season this year.

Everton have started well under Marco Silva and the fans will be expecting them to challenge for the Europa League places.

Silva has signed the likes of Richarlison, Gomes, Bernard and Mina this summer and he will be under pressure to deliver a strong finish in the Premier League.

Here is how the Everton fans reacted to the club statement on Moshiri.

Good man who cares for the club, and wants to see success. Well in

— ItsToffeeTime (@ToffeeIts) September 11, 2018

Then he buys all shares and splits them with usmanov

— me (@toffee_7) September 11, 2018

Further share purchases by Mr Moshiri reassures me that Bramley Moore is a goer and for the right deal for the club.

— Graham Woodhouse (@yankface1) September 11, 2018

This is very promising for the future

— Horacio Hornblower Jnr the 3rd (@frannyefc76) September 11, 2018

Cheeky little birthday present cheers Everton!!

— Chuffinhambone (@Chuff84) September 11, 2018

Just hanging on to it for his mate

— Jimmy Donnellan (@donemelons) September 11, 2018

All hail…

— Stu (@rossiwithani) September 11, 2018

@leedixon1878 @PGJ9 Total dominance now! Can see us winning the Prem within 2 years.

— Chris Jones (@chris83jones) September 11, 2018

Great news

— JP (@jpcoogan81) September 11, 2018