Everton have agreed to an exclusivity arrangement with MSP Sports Capital for investment in the club.
BBC Sport says no deal has yet been struck, but talks are moving in the right direction over future funding.
New York-base MSP are now rated ahead of 777 Partners in their interest in buying into Everton
Everton owner Farhad Moshiri has been seeking outside investment for over 12 months. Moshiri has invested over 750m of his own money into Everton since 2016.
He has been speaking with MSP for over 12 months.