Everton has been put up for sale by its 67-year-old British-Iranian owner, Farhad Moshiri.
Moshiri who has been seeking outside investment for some months before deciding to put up the club for sale, is looking for offers of more than £500m for the Premier League club.
It is believed the 67-year-old is looking to recoup the money he invested in the building of the club’s new stadium, currently being put together in the city of Liverpool’s dock area.
A number of potential buyers had expressed interest, with several buyers linked with a takeover at the start of the season.
The Merseyside outfit are down in 19th in the table after collecting only 15 points from their first 20 games this season, with Frank Lampard overseeing the club's worst start to a Premier League season.
While Lampard has been sacked, fans have called for the board to resign after a lack of investment and years of botched recruitment strategies in the transfer market.
The threat of relegation has pushed the club into crisis mode and they are yet to appoint a new manager, with Ralph Hasenhuttl and Marcelo Bielsa both on their shortlist of candidates.
American financial firm Deloitte have been tasked with overseeing the sale of the club with offers set to be made for the Premier League strugglers, who were taken over by Moshiri in 2016 in a £200m deal for a 49.9 per cent stake.