Everton owner Farhad Moshiri insisted that sacking Rafa Benites was ‘the right decision’ - and has injected £100 million into the club.
The Toffees’ majority shareholder has come under fire from supporters this season due to a lack of communciation.
Fans have also been critical of his profligacy during his time at Goodison, which resulted in Everton having to negotiate financial fair play rules in the summer.
Moshiri has now penned an open letter to Evertonians on the current season and insisted he remains committed to the club - having taken his sharehold to 94.1%.
On Everton’s website, Moshiri wrote: “It has been a difficult season to date - with results not meeting the expectations of anyone associated with the Club. As a result, the decision was taken last weekend to part ways with Rafa Benitez as our manager.
“After a very disappointing run of results, it was the right decision for the Club – although it is never one that is taken lightly.
“As we prepare for our forthcoming games, we have a fiercely passionate Evertonian in Duncan Ferguson taking charge of the team on an interim basis. He is a remarkable man and I know he will give his all in leading the team, as he did so impressively during his spell as caretaker boss in December 2019.
“I understand the frustration felt by everybody who loves Everton because of our inconsistent form in recent seasons, despite significant investment in the playing squad.
“The money that has been spent since 2016, not just on the playing squad but also on key projects including our new stadium, demonstrates my commitment to Everton.
“I write to you to assure you that my commitment remains strong and focused. The Club has announced today the conversion of a £100m loan to the Club into equity which is a clear demonstration of my commitment and greatly strengthens the balance sheet.
“I am a private man and I do not speak publicly very often. But I promise you that my determination to deliver for Everton will not waver.”
Everton are searching for their sixth manager in as many years after parting ways with Benitez following last Saturday’s 2-1 loss at Norwich City.
Not only that, but the Blues are without a director of football. Marcel Brands departed last month.
There is a full strategic review going on behind the scenes at Goodison - and Moshiri is confident he and the board will appoint the right manager.
He added: “The strategic football review that is currently ongoing will ensure we have the best model in place moving forward. I am working closely with the Chairman and the Board as part of that strategic review - and I can assure you the recruitment process for a new manager is aligned to that. It is vital we appoint a manager who fits the structure we are putting in place and so, whilst we are keen to make an appointment as quickly as possible, we will work together to ensure it is the right candidate to deliver the success we all crave.
“I have the utmost faith and respect in the Board and I work incredibly well with them. The experience and knowledge of our Chairman blends perfectly with the vision and leadership of Denise, our CEO. He is respected across football, not only as an expert in player trading negotiations - skills that have been put to good use already this month with three new signings - but for the unwavering commitment and guidance he has given to Everton over so many years. There is no one working harder to bring success and happiness back to the Club.
“The Boardroom also boasts the financial acumen of one of the most respected Finance Directors in football in Grant Ingles, and the recent addition of the footballing expertise provided by a true Everton legend in Graeme Sharp completes a robust and well-balanced team that leads by example in all areas of our operation. As always in business, we will not stand still - and will continue driving forward for the benefit of the Club.
“The expertise of our senior leaders has been undeniably demonstrated in the past 18 months by the huge strides taken in delivering our new stadium on the banks of the Mersey despite the great-many challenges posed by the pandemic.”