The deal is subject to subject to regulatory approval from the EPL, the Football Association, and Britain's Financial Conduct Authority.

US billionaire Dan Friedkin is closing in on a takeover of Everton FC, the Premier League team that has been struggling to find a buyer, according to people familiar with the situation.

“Blue Heaven Holdings and The Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton Football Club. The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.