An investment group has raised $165m as part of its bid to buy a stake in Everton FC.
The funds have been raised by MSP EFC Investors, which involves 13 partners.
New York-based MSP Sports Capital has been in exclusive talks with the Premier League club since the turn of the year and would be expected to manage the investment on the group's behalf.
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It is expected that the money will go towards Everton's new stadium as well as transfer funds.
MSP Sports Capital was co-founded by Jahm Najafi and Jeffrey Moorad, with the pair expected to be given seats on Everton's board if a deal is finalised.
Everton have also confirmed the appointment of Colin Chong as their interim chief executive. Mr Chong is currently the club's chief stadium development officer and has been focused on the delivery of the Bramley-Moore Dock stadium.
He has been responsible for the operational management of the club's business headquarters at the Royal Liver Building.
James Maryniak, currently director of finance, will take charge of all finance matters as interim chief finance officer.
Everton added that majority shareholder Mr Farhad Moshiri will join the board alongside chartered accountant John Spellman.
The club also confirmed that Bill Kenwright will remain as Everton's chairman.
Mr Moshiri said: I wanted Bill to remain as our chairman during this important period of transition for the club and I am delighted that he has accepted my request to do so.
"Bill’s knowledge and vast experience will be crucial for us as we look to reset, deliver on external investment and position Everton for a successful future.
"In John, we have an experienced finance professional who has held chief executive and senior finance roles for international firms and I welcome him to the club.
"In Colin and James, we have two experienced senior "lub professionals who have agreed to take on enhanced roles on an interim basis, and who we know can and will deliver immediately."
Earlier this month, Everton confirmed chief executive Denise Barrett-Baxendale, chief finance and strategy officer Grant Ingles and non-executive director Graeme Sharp had all stepped down.
Bill Kenwright purchased 68% of Everton from Peter Johnson in 1999 and became chairman of the club in 2004. He then sold half of his stake to Farhad Moshiri in 2016.
Everton returned a loss for the fifth successive year with the £44.7m deficit reported for the 2020-21 season taking their cumulative losses to more than £430m over the period.
