The Friedkin Group has agreed a deal in principle to complete a takeover of Everton, BBC Sport understands.
Chairman Dan Friedkin, who also owns Roma, is now strong favourite to purchase the Toffees after jumping ahead of four other bidders.
A decision over whether Friedkin wants to exercise the option of buying current owner Farhad Moshiri's 94% stake could come by the weekend.
American businessman Friedkin, who has a reported net worth of £4.8bn, wants Serie A side Roma and Premier League club Everton to sit at the top of a multi-club model.
Moshiri is now expected to grant the group a period of exclusivity.