Everton owner Farhad Moshiri denies claims his stake in Goodison Park club was funded by Alisher Usmanov

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The  Premier League have been urged to launch an investigation into allegations that its ownership rules had been breached by Everton owner Farhad Moshiri.

Moshiri sold his Arsenal stake in 2016 to buy nearly 50 per cent of Everton.

But leaks in the Paradise Papers, a huge batch of documents revealing the financial dealing of politicians, celebrities and business leaders, suggest his original stake in the London club was funded by a ‘gift’ from oligarch Alisher Usmanov, who owns 30.4 per cent of Arsenal, raising the question of whether his money is now in Everton.

Farhad Moshiri sold his Arsenal stake in 2016 to buy nearly 50 per cent of Everton

Moshiri strenuously denied the money was a gift. Lawyers acting for him in the Everton deal said any allegation Premier League rules had been violated were wholly false. They say Moshiri is independently wealthy and funded the investments himself.

Usmanov’s legal representatives said there were errors in the allegations and that the investigation was a gross intrusion into their client’s privacy.

But Tom Watson, Labour’s Shadow Secretary for Digital, Culture, Media and Sport, says the Premier League should probe the claims.

Tom Watson, Labour's deputy leader, said he will urge the Premier League to investigate 

‘The Premier League have strict ownership rules. The revelations suggest they might have been breached. I’m sure the Premier League will investigate and I will urge them to do so,’ he said.

Premier League rules state an individual who owns a stake of 10 per cent or more in one club cannot hold a single share in another, to avoid any conflict of interest.