Farhad Moshiri, British-Iranian owner of Everton, has listed the club for sale, according to reports.
Moshiri, who sought outside funding for several months before choosing to sell the Premier League team, is seeking bids of more than £500 million for the club.
The 67-year-old is thought to be looking to recuperate the money he put into the club’s new stadium, which is now being built in Liverpool’s dock district.
Several prospective investors had indicated interest, with several of them linked to a takeover at the start of the season.
The Merseyside side is 19th in the standings after earning only 15 points from their first 20 Premier League games this season, with Frank Lampard in charge of the club’s poorest start to a Premier League season.
While Lampard has been dismissed, fans have called on the board to resign over a lack of investment and years of failed transfer-market recruitment efforts.
The team is in crisis mode due to the prospect of relegation, and they have failed to appoint a new manager, despite having Ralph Hasenhuttl and Marcelo Bielsa on their shortlist of contenders.
Deloitte, an American financial firm, has been tasked with overseeing the club’s sale, with proposals expected for the Premier League relegation battlers, who were taken over by the club.