After negotiations with MSP Sports Capital broke down in August, the struggling Toffees restarted talks with the American business.
The acquisition will put an end to the turbulent reign of owner Farhad Moshiri, who made his initial investment in 2016.
According to a source close to Moshiri, Everton has been looking for funding for some time, although the agreement is not yet finalized.
With just one point from their first four games this season, Sean Dyche’s team is currently 18th in the league.
Everton is in shambles on and off the field. The team has just avoided relegation the last two seasons, including last season when a win on the final day kept them up.
Everton has denied any wrongdoing and stated that they are “prepared to robustly defend” their stance when they appear before an independent panel next month on an alleged violation of the Premier League’s financial fair play rules.
The club reported financial losses in March for the fifth year in a row, bringing their total losses over the previous five years to more than £430m.
They are also constructing a new stadium on Bramley Moore Dock, and estimates put the cost at £760 million, a £260 million increase over what the club said last year.
When approached by BBC Sport, 777 and Everton both declined to comment.
What has happened at Everton?
In February, Moshiri told the fans’ advisory board the club was “not for sale” but he had been talking to “top investors of real quality”.
British-Iranian businessman Moshiri has invested more than £750m since 2016, but some supporters have been deeply unhappy about his ownership of the club.
Toffees fans held protests before some home games last season and called for Moshiri and the board to leave the club.
Chief executive Denise Barrett-Baxendale, chief finance and strategy officer Grant Ingles and non-executive director Graeme Sharp have all since left their boardroom roles, but chairman Bill Kenwright remains in his post.
In the latest accounts, the club had an annual turnover of £181m – down from £193.1m – having suspended commercial sponsorship arrangements with Russian companies in March 2022.
Russian billionaire Alisher Usmanov, who had his assets frozen by the European Union following Russia’s invasion of Ukraine, has a 49% stake in USM Holdings, which sponsored Everton’s training ground.
Moshiri, who is chairman of USM Holdings, put in a cash injection of £70m in 2021-22.
777 Partners is an investment platform based in Miami that has branched out into sports clubs over the past few years.
They aim to provide growth capital for businesses and describe their foray into the sports market as a being an “investment in the long game”.
They already have already invested in various football clubs around the world, including Vasco de Gama in Brazil, Standard Liege in Belgium and Hertha Berlin of Germany, but have faced protests from supporters about the way their clubs are run.
777 bought a 45% stake in the British Basketball League in 2021, in a deal which was determined to present no conflict of interest despite the same firm also owning the London Lions, who won the title last season.
In a statement, 777 said they “categorically confirm that there is no investigation into its ownership of the London Lions, and that these rumours are completely unfounded”.
The firm also holds a share in La Liga side Sevilla, who won the Europa League last season.
777’s interests are not limited to sport – they also have assets in insurance, aviation, media and entertainment.
Should the deal be completed, it would mean half of the 20 Premier League teams would be American-owned.
