The Premier League fined Everton 10 points on Friday for failing to meet the profitability and sustainability requirements (PSR) for the 2021–2022 season. These requirements were in place for the club to be eligible for Premier League play.
Following an instant deduction by an independent committee, Everton will now be in the relegation zone. Prior to the deduction, Everton was in second place, ahead of Burnley, which was in last place based on goal differential. Previously, they had held the 14th position. The organisation has said that it will file an appeal of the ruling because it believes that the outcome was unfair.
In the beginning of the current calendar year, the Premier League lodged a protest against the Merseyside club, and the matter was eventually brought before the independent panel.
“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,” according to a statement released by the league.
“The Commission determined that Everton FC’s PSR calculation for the relevant period resulted in a loss of £124.5 million ($154.7 million), as contended by the Premier League, which exceeded the threshold of £105 million permitted under the PSRs.”
According to their most recent figures, Everton has suffered a loss of more than 430 million pounds in the previous year and has been in the red for the fifth year in a row.
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In the beginning of the year, the team said that they anticipated having a deficit of 44.7 million pounds for the 2021–2022 season.
Everton declared that their losses had significantly reduced, coming in at £76 million as opposed to £121 million the year before. This followed three years in a row in which Everton had lost more than £100 million.
The Premier League will hear an appeal from Everton, which claims the sanction was “wholly disproportionate and unjust.” Everton announced this earlier today.
In a statement, the organisation said, “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 disagrees with the judgement that its acts were not in the best interests of the game, and it does not believe that the Premier League ever said that its actions were not in the best interests of the game during the proceedings.
“The Commission’s sanction is neither a fair nor a reasonable reflection of the evidence presented,” the Commission stated.
In addition, ever since the City Football Group of Abu Dhabi purchased Manchester City, the club has been under investigation for more than one hundred different possible infractions of financial legislation. Earlier this year, this material was sent to a panel that is completely impartial.
At this time, a decision has not been reached regarding the city lawsuit.
“The club will also monitor with great interest the decisions made in any other cases concerning the Premier League’s Profit and Sustainability Rules,” according to Everton.
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