Everton have officially been handed a 10-point deduction due to their breach of financial rules in the Premier League. The Merseyside club have dropped to 19th place with only 4 points as a result of the deduction. They have also become the first in the top flight to be handed a punishment of such nature.
The club has also released a statement in response to the points deduction, which contains a confirmation of the decision being appealed.
Everton handed 10-point deduction over financial rule breaches
“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 have confirmed a loss worth over £300 million between the period of 2019 and 2022, almost triple the £105 million permitted. Their most recent figures have taken the total loss to £430 million over five years, which also factors in the money spent for their new stadium on the Bramley-Moore Dock.
Due to the COVID-19 period, clubs were allowed additional losses and expenditure on infrastructure, and the club insists that it is where the discrepancy lies in the accounting. Their appeal process will almost certainly bring this up in an attempt to reverse the deduction.
In their statement, the club also added that they would “Also monitor with great interest the decisions made in any other cases concerning the Premier League’s Profit and Sustainability Rules,” hinting at the 115 FFP breaches committed by champions Manchester City and the discrepancies found in Chelsea’s transfer business under the Roman Abramovich ownership.
