The Friedkin Group has agreed to buy Farhad Moshiri’s 94% stake in Everton.
The deal is subject to regulatory approval from the Premier League, the Football Association and the Financial Conduct Authority.
It is believed to be worth in excess of £400 million, leaving Moshiri with little return on his large investment.
The US-based group is led by chairman Dan Friedkin, who also owns Roma. He has a net worth of £5.7 billion. Forbes., external
Everton will become the 10th club in the Premier League to be majority American-owned.
The deal will bring an end to Moshiri’s tumultuous reign. The British-Iranian businessman has invested more than £750 million in the club since 2016 but many supporters are deeply unhappy with his ownership.
Everton, who have not played outside the top flight during the Premier League era, have been in the bottom half for the past three seasons, finishing 16th, 17th and 15th.
They had two points deducted for breaching Premier League financial rules over the level of losses incurred by clubs the previous season – taking the total to eight points deducted following an appeal process.
A Friedkin Group spokesman said in a statement on Monday: “We are pleased to have reached an agreement to become custodians of this iconic football club. We remain focused on obtaining the necessary approvals to complete the transaction.”
“We look forward to providing stability to the club and sharing our vision for its future, including completing construction of the new Everton Stadium at Bramley-Moore Dock.”