Stones has been tracked by Manchester City for much of the summer so far, but Everton had wanted to keep hold of the centre-back.
Stones expressed an interest to join Chelsea last summer, but the Toffees turned down all the approaches from the London side.
And Everton were expected to adopt a similar tactic this transfer window, as they look to keep the bulk of their squad together.
Everton are under no pressure to sell following Moshiri’s investment, but Stones’ desire to leave has reportedly led the Merseyside club deciding that it would be best for both parties to move on.
Everton will now apparently allow Stones to leave for £45 million, as long as they have a replacement.
The Toffees want to snap up a defender quickly, as Ronald Koeman looks to cover for the void that Stones’ impending departure will leave.
Everton have made just one signing so far this summer, but they are expected to invest heavily in the coming weeks.