The Blues have crashed down to 19th in the Premier League table after a hefty points deduction.
The Premier League announced a 10-point deduction for Everton on Friday after a breach of Financial Fair Play regulations.
In a statement, the Premier League revealed, “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 breach, which was about Everton’s calculation of Profitability and Sustainability Rules (PSRs), led to a loss of £124.5 million. This was more than the allowed threshold of £105 million.
In response, Everton have expressed dissatisfaction with the severity of the penalty. In their own statement, the Blues stated: “The club believes that the commission has imposed a wholly disproportionate and unjust sporting sanction.”
Everton’s case went to an independent commission after an audit of financial records for the 2021/22 season. According to Premier League rules, clubs are allowed a maximum loss of £105 million over three years. Breaches can lead to fines or point deductions.
Pending the verdict, Leicester City, Leeds United, and Burnley had warned of potential legal action against Everton’s prospective new owners, 777 Partners.
The points deduction places Everton second from the bottom in the Premier League table, trailing by two points from safety. This setback comes as Sean Dyche’s side prepare to face Manchester United at Goodison Park on November 26. They’ve been in good form of late, with four wins in their last six games.
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