Everton has become the first Premier League club to be punished for breaching the league’s profitability and sustainability rules.
The point deduction will place them in the relegation zone.
The decision comes after an independent commission found that Everton had exceeded the allowable loss threshold of $105 million for the period. The club’s losses for that period amounted to $534.36 million.
“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 league said in a statement.
“The Commission determined that Everton FC’s PSR Calculation for the relevant period resulted in a loss of 124.5 million pounds, as contended by the Premier League, which exceeded the threshold of 105 million pounds permitted under the PSRs.”
Everton has announced its intention to appeal the decision, stating that it is “wholly disproportionate and unjust.” The club also maintains that it has been transparent in its dealings with the Premier League and has always respected the integrity of the process.
The sanction against Everton is the latest in a series of financial penalties imposed on Premier League clubs in recent years. In 2014, Manchester City were fined $49 million for breaching financial fair play rules. And in 2019, Paris Saint-Germain were fined $27 million for similar offenses.
The Premier League’s PSRs were introduced in 2010 in an attempt to promote long-term financial stability among its clubs. The rules limit the amount of money that clubs can lose each year and also require them to meet certain financial criteria in order to be eligible for a Premier League license.
The breach of PSRs by Everton is a serious matter and could have significant consequences for the club. The 10-point deduction will place them in the relegation zone and make it extremely difficult for them to avoid relegation at the end of the season.
In addition to the financial penalties, Everton could also face further sanctions from the Premier League, such as a suspension or expulsion from the league.
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