The Friedkin Group has agreed on a deal to take over Everton FC from its owner Farhad Moshiri, the Toffees announced in a statement on Monday.

The agreement means that the Texas-based firm, owner of the Serie A club AS Roma, will hold a 94.1% controlling stake in the Premier League club. It also means a change in hands at the ownership level after a tumultuous time at Goodison Park as the British-Iranian owner sold off his shares at the club.

Moshiri, a former stakeholder at Arsenal, initially brought 49.9% shares of the club in 2016 before investing a £100m capital to increase his stake by £94.1%.

Before the Friedkin Group, the Miami-based investment fund 777 Partners, had reached an agreement to buy the club from Moshiri. But the deal fell short after the conditions outlined by the Premier League were not met.

The first-time, the Friedkin Group, agreed in principle to take over the club in June. However, a month later, the deal was off the table.

The Toffees have now announced that, “Blue Heaven Holdings and The Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings’ majority stake in Everton Football Club. The transaction is subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.”

“We are pleased to have reached an agreement to become custodians of this iconic football club. We are focused on securing the necessary approvals to complete the transaction. We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock,” a spokesperson for The Friedkin Group said.