Liverpool, Feb 9 (IANS): English Premier League outfit Everton are inching closer to a £200m takeover after the club's management conducted meetings with an American consortium.

Former San Diego Padres (American baseball franchisee) owner John Jay Moores leads the group with Charles Noell. They have been in talks with Everton owner Bill Kenwright for the last few months. 

Moores and Noell were previously interested in investing in Swansea. The duo then spent spent six weeks taking a close look at Everton's accounts.

Former Everton midfielder Peter Reid said the club needs higher revenues, a new stadium and added if Kenwright is willing to sell the club then it should be done.

"We've got a great squad of players and a good manager, but we need to get a new stadium to keep pace with the other clubs in this Premier League," he was quoted as saying by the BBC on Monday.

"You need the revenue that generates. If Bill Kenwright says it's ok, let's get it done."