Everton: Premier League deducts club 10 points for profit and sustainability rule breach News

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Everton: Premier League deducts club 10 points for profit and sustainability rule breach

By Goodness Ndukuba, Akwa on November 17, 2023

Everton have been deducted 10 points by the Premier League for a breach of profit and sustainability rules.

It was heaviest points punishment in Premier League history.

Everton say they are "shocked and disappointed" by the ruling and have vowed to appeal.

"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 deduction, which was meted out by an Independent Commission and will be imposed with immediate effect, is the largest in the history of the Premier League and plunges Sean Dyche's team into the relegation zone.

According to the Premier League, Everton admitted during a five-day hearing it was in breach of the league's Profitability and Sustainability Rules with the Commission "determining Everton FC's PSR Calculation for the relevant period resulted in a loss of £124.5m, as contended by the Premier League, which exceeded the threshold of £105m permitted under the PSRs."

After narrowly avoiding relegation to the Championship last season, Everton were, prior to their points loss, 14th in the league table, eight points above the bottom three.

Only two clubs have previously been docked points in Premier League history - Middlesbrough, who were deducted three for failing to fulfill a fixture against Blackburn in 1996/97 and Portsmouth, who were stripped of nine after entering administration in March 2010.

Everton were referred to an Independent Commission by the Premier League in March for a potential breach of profit and sustainability rules.

The club said they would "robustly defend" and "strongly contest" the charge ahead of a hearing which took place last month.

While the nature of the alleged breach has not been disclosed, Sky Sports News understands the charge related to interest payments on the cost of building the club's new stadium at Bramley Moore Dock.

In a statement, Everton responded:

"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."

"Everton are very aggrieved. It's arisen over a couple of accounting points in respect to the new stadium.

"Everton borrowed money and they felt that interest should have been taken into consideration in respect of their PSR calculations. The Premier League disagreed so that has resulted in the points deduction.

"There are reasons due to Covid. Everton felt, given the softening of the transfer market, they should have been given a bit more compassion to take into account the harshness of the penalty.

"Covid has been disregarded to a degree in terms of their inability to sell players for prices they felt they would have achieved otherwise."