English Premier League side Everton has been hit with a massive ten-point deduction.
The club has been found guilty of a breach of financial rules back in 2021-22 after they posted staggering financial losses over a three-year period, more than what the Premier League’s guidelines permits.
The deduction, which 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.
The Premier League said in a statement: “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.
“Following a five-day hearing last month, the commission determined that 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.”
In response to judgment, Everton said in a statement: “The club believes that the commission has imposed a wholly disproportionate and unjust sporting sanction … 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.”
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