Everton have announced an agreement has been reached for the Friedkin Group to take over the club, purchasing Farhad Moshiri’s 94 per cent majority shareholding. Here, the PA news agency takes a closer look at the situation and what happens next.

“Blue Heaven Holdings and The Friedkin Group confirm that they have reached 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 Friedkin Group have reached agreement with Blue Heaven Holdings over the terms of the sale of Farhad Moshiri's majority stake in Everton, the Premier League club said on Monday.