Monday, July 22, 2024
HomeSportsEverton Hit With 10-Point Penalty For Financial Rule Breaches

Everton Hit With 10-Point Penalty For Financial Rule Breaches

Everton have been docked 10 points for a breach of the Premier League’s profitability and sustainability rules (PSR) for the season ending 2021-22, the league said on Friday.

An independent commission imposed an immediate deduction that will see Everton drop from 14th into the relegation zone, above bottom side Burnley on goal difference. The club described the decision as unjust and said it would appeal.

The Premier League said it had issued a complaint against the Merseyside club and referred the case to the independent commission earlier this year.

“During the proceedings, the club admitted it was in breach of the PSRs for the period ending season 2021-22 but the extent of the breach remained in dispute,” the league said in a statement.

“The Commission determined that Everton FC’s PSR Calculation for the relevant period resulted in a loss of £124.5 million ($154.7m), as contended by the Premier League, which exceeded the threshold of £105m permitted under the PSRs.”

Everton’s most recent figures showed a fifth straight year of losses, with their total loss over that period amounting to over £430m.

The club said they had posted a loss of £44.7m for the 2021-22 season earlier this year.

After three straight years of losses in excess of £100m, Everton said they had made significant reductions to their losses, down £76m from last year’s loss of £121m.

Everton said the sanction was “wholly disproportionate and unjust” and announced its intention to appeal the decision to the Premier League.

“Everton maintains that it has been open and transparent in the information it has provided to the Premier League and that it has always respected the integrity of the process,” the club said in a statement.

“The club does not recognise the finding that it failed to act with the utmost good faith and it does not understand this to have been an allegation made by the Premier League during the course of proceedings.

“Both the harshness and severity of the sanction imposed by the Commission are neither a fair nor a reasonable reflection of the evidence submitted.”

Earlier this year, Manchester City were also referred to an independent commission over more than 100 alleged breaches of finance rules since the club were acquired by the Abu Dhabi-based City Football Group.

No verdict has been reached yet in the case related to City.

“The club will also monitor with great interest the decisions made in any other cases concerning the Premier League’s Profit and Sustainability Rules,” Everton added.



Most Popular

Latest Post