Everton takeover news: Farhad Moshiri agrees 'staggered deal' as boardroom overhaul 'high on the agenda'

Everton look set to have new owners after Farhad Moshiri agreed to sell his stake in the club to 777 Partners.

It was confirmed on Friday at 10am that Moshiri had agreed to a deal with the American investment fund for his 94.1 percent stake in the Goodison Park club. The takeover is subject to approval from the Premier League, FA and Financial Conduct Authority.

The takeover would bring an end to the tumultuous tenure of British-Iranian Moshiri, who first invested in 2016. Since he joined the club seven years ago, the 68-year-old has invested more than £750m.

777 Partners has established a global multi-club platform, which includes Genoa, Vasco da Gama, Hertha BSC and Standard de Liege. And with yesterday’s news in mind, we have taken a look at what the national media is reporting about the development.

777 Partners have clear first priority to give Everton supporters takeover clarity they need

Everton takeover: Farhad Moshiri's path to surprise 777 Partners deal and what happens next

'Factors by which that figure can rise and fall'

Paul Joyce of The Times reports: "It is understood that the Miami-based company would pay a set amount for the club, but there are factors by which that figure can rise and fall depending on Everton’s on- and off-field progress.

"Moshiri, who has agreed for the payments to be staggered over a number of years to help Everton’s financial position, would stand to earn more should the club move into their new stadium at Bramley-Moore Dock and commercial performance improve.

"On the pitch, the threat of relegation to the Sky Bet Championship could have a negative impact. Sean Dyche’s side are in the bottom three in the Premier League, without a win this season, having only avoided relegation