Everton have confirmed that The Friedkin Group have struck an agreement to take over the club.
The Americans previously conducted due diligence after entering into a period of exclusivity with majority shareholder Farhad Moshiri.
They later withdrew interest due to reported concerns about the level of debt that the Goodison Park club was carrying.
But the Toffees announced on Monday that the group led by Dan Friedkin now has reached an agreement with Moshiri subject to Premier League approval.
“We are pleased to have reached an agreement to become custodians of this iconic football club,” said a spokesperson for the group.
“We are focused on securing the necessary approvals to complete the transaction.
“We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock.”
The Friedkin Group already own Serie A giants Roma and French fourth-tier side Cannes.