Russian businessman to buy Everton - report

The Sunday Times said St Petersburg-based Boris Zingarevich, who co-owns owns a paper manufacturing company, would inject 20 million pounds ($36.52 million) into the hard-up club, giving him a 40 percent controlling interest.

Everton, who have been in the doldrums for much of the past decade, have been at the centre of a boardroom power battle between chairman Bill Kenwright and rival Paul Gregg.

If the deal does go ahead, the club's supporters will hope that it has a similar impact to that at Chelsea where Russian oil magnate Roman Abramovich has pumped in more than 200 million pounds since taking over last year.

The newspaper said Everton would announce the deal at a special board meeting on Sunday.

News source: reuters.co.uk