Crystal Palace shareholder John Textor has reportedly entered a period of exclusivity to pursue the purchase of Farhad Moshiri's majority stake in Everton.
The American businessman holds a 45 per cent stake in Crystal Palace, which he holds through his Eagle Football Group.
However, The Athletic have reported that Textor has signed agreements with Moshiri and the Toffees.
Premier League rules currently forbid the ownership of two clubs in the same division.
This means that Textor would have to sell his 45 per cent stake in Palace, before he can purchase the Toffees.
John Textor has reportedly entered a period of exclusivity to pursue the purchase of Everton
Textor is keen to purchase Farhad Moshiri's (right) 94 per cent stake of Everton
Textor would need to sell his 45 per cent stake in Crystal Palace before he can buy the Toffees
In May, Textor engaged investment banking firm Raine Group to seek a buyer for Eagle Football Group's stake in Palace.
Meanwhile, in an interview with The Athletic in May, Textor admitted to having conversations about Everton.
He said: 'Everton represents the best of English football: the struggles, the glory, the want. I love that it's out of London. Everybody should want to buy Everton right now.
'That kind of club is what I'm referring to, where the risk and the reward of your relationship and community is so great and you could come in, make promises and keep them. How great would it be to take one of these great English clubs back to sort of glory?
'We're also looking at other opportunities and we don't need to jump right out of Palace right into something. That'd be a mistake.
'I suspect that the problem with Everton is it won't be available by the time we would be ready for it. You can't own two clubs in one league and we're not going to rush the situation at Palace, no matter how good another opportunity looks.'
Textor invested £86m to buy 40 per cent of Palace in August 2021, and has since increased his holding by another five per cent, but said he is unable to take majority control. Steve Parish, Josh Harris and David Blizter are the other co-owners.
Everton have seen two takeover attempts abandoned in recent months, firstly 777 Partners saw their deal collapse.
Everton have already seen two takeover attempts collapse in recent months
Textor holds majority stakes in Lyon, Brazil side Botafogo and Belgian team RWD Molenbeek
Then less than two months later The Friedkin Group's proposed purchase of Moshiri's 94 per cent at the Toffees also fell through.
Everton fans are keen for Moshiri to sell up, with concerns over the club posting losses of nearly £400m between 2019 and 2023 - leading to two breaches of the Premier League's profitability and sustainability rules, with a total deduction of eight points.
Textor's Eagle Football Group also hold majority stakes in Brazilian first-division side Botafogo, Belgian side RWD Molenbeek and Ligue 1 side Lyon.
Everton start their Premier League campaign against Brighton on Saturday, with Crystal Palace travelling to Brentford a day later.