The initial investment will be around £13m, with an option for a further £17m. Should the full £30m be provided (which will not be any time soon) the fund would have a controlling 50.1% stake in Everton.
Both Bill Kenwright and David Moyes are expected to remain in their current positions.
Only a few investors behind the fund have so far been named, but they do not include Boris Zingarevich, the Russian who was initiall behind the move. He reacted badly to publicity surrounding the deal.
Should the £13m investment go ahead, it is thought that David Moyes would have around £15m to spend either in January or next Summer.
More news as we get it.