American businessman John Textor is making "progress" in his bid to buy Everton but the club say there is "some work to be done to complete the transaction".
BBC Sport reported on 15 August that Crystal Palace co-owner Textor has been granted a period of exclusivity as he aims to buy Blues owner Farhad Moshiri's majority stake in the club.
Any deal is dependent on Textor selling his 45% stake in Palace, as Premier League rules prohibit individuals from owning more than one team.
In an interview with Sky Sports, external on Thursday, Textor compared owning Everton to becoming President of the USA.