Everton has received the harshest points penalty in the history of the Premier League. The club is both shocked and disappointed by the ruling and has stated that they will appeal. As a result of this penalty, Everton has fallen into the relegation zone. According to Sky Sports News, the charge against the club is related to interest payments on the cost of constructing their new stadium.
Everton have lost 10 points because they broke the Premier League’s profit and sustainability rules.
Everton is surprised and upset by the decision and plans to challenge it.
“Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted,” said the club.
The Premier League has imposed the largest deduction in its history on Sean Dyche’s team. As a result, they are in the relegation zone.
According to the Premier League, Everton confessed to violating the league’s profitability and sustainability rules (PSR) in a five-day hearing.
The commission found that Everton’s calculated loss during the relevant period was £124.5m. This amount exceeded the £105m limit allowed under the PSRs, as claimed by the Premier League.
After almost getting relegated to the Championship last season, Everton were 14th in the league table before losing points, which put them eight points ahead of the bottom three teams.
Only three clubs in Premier League history have had points deducted. Middlesbrough lost three points for not playing a match against Blackburn in the 1996/97 season, and Portsmouth had nine points deducted for going into administration in March 2010.
Tottenham received a 12-point deduction in 1994/95 due to financial misconduct that happened in previous seasons. Initially, the punishment was reduced to six points but was later completely removed.
Everton’s next match after the international break is against Manchester United at home on November 26. The game will be live on Super Sunday and will kick off at 4:30pm.
Everton was investigated by the Premier League in March for possibly breaking financial rules.
The club stated that they will vigorously defend and strongly dispute the accusation during the hearing that occurred last month.
Sky Sports News says that Everton overspent because of unexpected and unparalleled circumstances. They believe they have valid reasons for their overspend. Everton decided to cut financial ties with Alisher Usmanov’s holding company USM due to the war in Ukraine.
On top of the 15 commercial deals they had with USM, they lost a naming rights deal for the new stadium at Bramley Moore dock worth £200m. This deal would have been activated once planning permission was granted.
Dyche was informed about the punishment by Kevin Thelwell, the director of football. He is reportedly disappointed and surprised by the verdict, just like the rest of the club.
In a statement, Everton said: “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.”
Meanwhile, Everton’s fan groups made a collective statement on Friday evening which read: “The punishment handed out today by an independent commission is disappointing, to say the least. Whilst we understand the need for rules to be followed and standards upheld, this punishment only punishes the fans, players and management team.
“It’s no secret that our club has been run incompetently at the top for several years now. The fans took it upon themselves to push for change and force the removal of an underperforming board that broke your rules. The people who broke your rules are not the ones suffering.”
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