Everton loses 10 points for violating financial rules – 11/17/2023 – Sport

Everton loses 10 points for violating financial rules – 11/17/2023 – Sport

Everton became this Friday (17) the first Premier League club to be punished with loss of points for violating financial rules, known as PSR. The league took 10 points off the Merseyside club over its finances in the 2020-2021 season.

An independent commission imposed an immediate loss of points that will see Everton drop from 14th in the standings to the relegation zone, above bottom-placed Burnley on goal difference. The club described the decision as unfair and said it will 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 that it was in breach of the PSRs for the period ending the 2021-2022 season, but the extent of the breach remained in dispute,” the league said in a statement.

“The Commission determined that the calculation of Everton FC’s PSR for the relevant period resulted in a loss of £124.5 million, as claimed by the Premier League, which exceeded the £105 million threshold ( R$ 637.5 million) allowed by the PSRs.”

Everton’s latest figures showed a fifth consecutive year of losses, with its total loss in that period reaching more than £430 million.

The club said it had recorded a loss of £44.7 million for the 2021-2022 season earlier this year.

After three consecutive years of losses in excess of £100 million, Everton said it had made significant reductions in its losses, £76 million less than the loss of 121 million pounds (R$734.7 million) last year.

Everton appeal

Everton said the punishment was “totally disproportionate and unfair” 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,” he said.

“The club does not recognize the conclusion that it did not act in the utmost good faith and does not understand that this was an allegation made by the Premier League during the course of the proceedings.”

“Both the harshness and severity of the sanction imposed by the Commission are not a fair or reasonable reflection of the evidence presented.”

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

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

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

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