Everton have decided against pursuing a takeover by a Peter Kenyon-led consortium, 90min understands.
Kenyon had an exclusivity agreement with Everton to discuss a sale but that expired on Thursday night, meaning other bidders are now free to throw their hats into the ring.
Sources close to the situation have informed 90min that Everton owner Farhad Moshiri decided against pursuing a deal with Kenyon in favour of focusing on financing the construction of a new stadium.
Moshiri is also looking to oversee the strengthening of the Everton squad, with a new striker high on the wish list following Richarlison's £60m move to Tottenham.
Kenyon had believed a deal was agreed to buy the club for close to £500m and American businessman Maciek Kaminski, who was financing the deal, had flown in to England for talks with Moshiri.
The consortium had pledged to finance the stadium rebuild themselves and also promised manager Frank Lampard would have money to spend this summer.
However, Moshiri is understood to have rejected their proposal and is unlikely to reignite negotiations with the group.