Liverpool, Sep 23 (IANS): The Friedkin Group has announced that a deal has been struck for the group to acquire a 94% stake in Everton Football Club. The deal is subject to regulatory approval, from the Premier League, the Football Association, and the Financial Conduct Authority.

"Blue Heaven Holdings and The Friedkin Group confirm that they have reached an 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," the club informed in a release on Monday.

"A spokesperson for The Friedkin Group said: "We are pleased to have reached an agreement to become custodians of this iconic football club. 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," read the statement on the club's website.

The Friedkin Group reached a preliminary agreement in June to buy Moshiri's 94% stake, but discussions fell through a month later when the two sides couldn't finalise the terms. This followed an earlier attempt by Miami-based 777 Partners to secure a deal, which also fell short.

Chairman Dan Friedkin, who also owns Serie A club Roma, has a net worth of £5.7 billion according to Forbes.

In the ongoing takeover saga, American businessman and Crystal Palace owner John Textor entered negotiations but was unable to finalise a deal due to Premier League regulations that prevent individuals from owning more than one club.

Everton currently sit 19th in the Premier League table after the team failed to win any of their five opening games in the Premier League with one draw and four losses to their name.