Everton earned a points deduction of 10 points for violating Financial Fair Play (FFP) rules. The sanction is the harshest punishment ever for a Premier League club. As a result of the deduction, the Toffees now sit 19th in the table with just four points.
The Merseyside club previously posted losses of just over $55 million for the 2021/22 financial year. At the time, Everton admitted to having breached profit and sustainability rules (PSR) during this season. It was the fifth consecutive year that the club reported a loss. In total, Everton racked up $550 million in combined losses over the last five seasons.
Premier League rules state that their teams cannot lose over $130 million during three years. The top flight brought the case against Everton to an independent commission last month. This panel officially agreed with the Premier League regarding Everton’s financial issues. The commission has ruled that Everton posted losses of about $154 million during this three-year stretch.
“Everton’s understandable desire to improve its on-pitch performance (to replace the non-existent midfield, as Mr. Moshiri put it in evidence) led it to take chances with its PSR position,” the commission said in a statement.
“Those chances resulted in it exceeding the $130 million threshold by $24 million. The position that Everton finds itself in is of its own making. The excess over the threshold is significant. The consequence is that Everton’s culpability is great.”
“We take into account the fact that Everton’s PSR trend over the relevant four years is positive, but cannot ignore the fact that the failure to comply with the PSR regime was the result of Everton irresponsibly taking a chance that things would turn out positively.”
Everton already planning to appeal the decision
The Merseyside club quickly issued a statement of their own on Friday regarding the unfortunate news. “Everton Football Club is both shocked and disappointed by…
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Author : Chris Moore
Publish date : 2023-11-17 15:09:05
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