The deal comes after previous takeover attempts, including by 777 Partners, failed to materialize; Friedkin also owns Serie A club Roma.
Everton, currently struggling in the Premier League, is set to move to a new stadium at Bramley-Moore Dock, leaving behind Goodison Park, their home since 1892.
For more Premier League news, visit our dedicated section.
Everton announced on Monday that the US-based Friedkin Group has reached an agreement to buy Farhad Moshiri's majority stake in the struggling Premier League club.
The deal is subject to regulatory approval from the Premier League, the Football Association and the Financial Conduct Authority.
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