Everton are in advanced talks about being sold to 777 Partners LLC.
There remains caution around the completion of a deal given talks have been ongoing for months. But club owner Farhad Moshiri is growing optimistic that a deal can be finalised.
Iranian billionaire Moshiri has pumped in over £700m into the club since he acquired it in 2016. The American group is also now hopeful of a deal. Everton have not commented on the matter.
But there is still a chance the deal could fall apart given the complex nature of it, which will see Moshiri’s reign end after seven turbulent years.
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The team has been underperforming for most of that time, with the last two seasons seeing them fighting off relegation on the pitch and taking on Financial Fair Play (FFP) issues off it.
But they do have a new state-of-the-art stadium under construction on Bramley Moore Dock, which is hoped will revolutionise the club.
Miami-based group 777 have been in talks for months over a deal to invest in the club and have been seen as frontrunners since MSP Sports Capital pulled out of buying Everton last month.
Both were in the running but 777 would have withdrawn in May if Everton dropped out of the Premier League.
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They are already invested in a number of football clubs including Italian side Genoa, Sevilla in Spain, German outfit Hertha Berlin and Belgium's Standard Liege.
But they are not well liked with the fans of the Belgian side holding a demonstration against them recently at their ground.
Moshiri recently claimed that the club was not for sale but it has been clear in the past two years that it is in dire need of investment.
Now it appears the Iranian businessman is prepared to let go of control of the club.
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Everton have staved off relegation two years in a row but have started this season poorly again with no wins in four Premier League games so far.
They are due before an independent commission next month for an alleged breach of the Premier League's financial fair play rules. Everton have denied wrongdoing.
The past five years have seen their cumulative losses go to more than £430m while there are rising costs at their new stadium project.
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