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Everton Football Club have been dealt a huge blow by an independent commission’s decision to impose a ten-point deduction for breaching Premier League financial rules. This drastic penalty, in response to staggering financial losses exceeding £372 million over a three-year period, has immediate implications for the club’s standing in the league. Online bookmakers have since suspended their Premier League relegation odds.
The independent commission’s ruling stems from Everton’s breach of the Premier League’s profit and sustainability rules, surpassing the permissible limit by over £250 million. This deduction catapults the Toffees from a mid-table position to the precarious 19th place, now level on points with rock-bottom Burnley. Despite recent on-field successes under manager Sean Dyche, this huge setback poses a significant threat to the club’s stability.
Everton’s financial challenges extend beyond the immediate points deduction. The club’s statement expressing shock and disappointment underscores their intent to appeal the decision, citing it as a “wholly disproportionate and unjust sporting sanction.”
The timing of this penalty coincides with the pending takeover by American investment company 777 Partners. Led by entrepreneur Josh Wander, the £500 million deal to acquire Farhad Moshiri’s controlling stake is awaiting Premier League approval. In light of the recent points deduction, the US investment firm could look to lower their offer.
Despite the turmoil off the pitch, Sean Dyche’s managerial prowess has seen Everton go unbeaten for almost a month, showcasing resilience with victories over West Ham and Crystal Palace. The impending fixtures against formidable opponents such as Manchester United, Newcastle, and Chelsea intensify the challenges faced by the team.
Everton Football Club is both shocked and disappointed by the ruling of the Premier League’s Commission.
The Club believes that the Commission has imposed a wholly disproportionate and unjust sporting sanction. The Club has already communicated its intention to appeal the decision to the Premier League. The appeal process will now commence and the Club’s case will be heard by an Appeal Board appointed pursuant to the Premier League’s rules in due course.
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 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.
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 cannot comment on this matter any further until the appeal process has concluded.