Moshiri hasn’t attended a Premier League game at Goodison Park for over three years and is a controversial figure at Everton due to their position on the table compared to the money invested in recent years.
Allardyce spoke on the Seaman Says podcast about how he feels sorry for the owner, who he thinks listened to the wrong people when throwing his money into the club.
“Everton are on the decline financially in terms of the spending power.
“I feel incredibly sorry for Farhad Moshiri, by the fact that there was so much money wasted at Everton. The club could or should have been in the top six."
Despite the club not reaching expectations, the veteran manager believes the new stadium which is currently being constructed, will be a great legacy when he leaves and moves on to another project.
“With that, he has to take some blame himself, because he unfortunately listened to a lot of people and some of them weren’t quite as good as others. He thought that they were honest and good for Everton Football Club and obviously in the end it wasn’t, and I think that he’s getting out now, but his legacy is the new stadium that Everton fans must be really proud of, and that is the saving grace of Everton Football Club.
“And probably for him to recoup some of his money, because the amount of revenue that it’s predicted that it will turn over is – I’m being told, and I don't know whether this is actually true – in the region of £60-70M a year just in stadium revenue.
“That makes it incredibly attractive for somebody to come along, a brand-new stadium, owned by you as an asset, whoever gets the opportunity, you just have to develop a team.”