Everton, a prominent name in the Premier League, have today been hit with an immediate 10-point deduction, marking the most significant sporting sanction in the competition’s history. Those fans who have been watching football for a long time will know that this is not a regular occurrence. The only precedents are Middlesbrough’s 3-point deduction in 1997 and Portsmouth’s 9-point deduction in 2010.
The Premier League has found Everton guilty of breaching its profit and sustainability rules, leading to the club’s immediate 10-point deduction. This drastic measure has resulted in Everton dropping to 19th place in the league, with a new total of just four points.
The specifics of the alleged breach were not disclosed when the Premier League referred Everton to an independent commission in March. However, it is known that Everton reported financial losses for the fifth consecutive year in March, with a deficit of £44.7m in 2021-22.
Premier League clubs are allowed to lose up to £105m over a three-year period. Everton admitted to breaching the profit and sustainability rules (PSR) for the period ending 2021-22, with losses amounting to £124.5m.
Everton expressed shock and disappointment at the ruling, describing it as “wholly disproportionate and unjust.” The club has announced its intention to appeal against the decision, questioning the fairness and reasonableness of the sanction in light of the evidence submitted.
In a statement, Everton said:
“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.”
The club also stated that it would closely monitor decisions made in other cases concerning the Premier League’s profit and sustainability rules.
The points deduction comes amidst a period of significant uncertainty for Everton. In September, owner Farhad Moshiri agreed to sell his 94% stake in the club to American investment fund 777 Partners. The takeover is currently undergoing regulatory processes and was expected to be completed by next month, prior to this ruling.
Furthermore, Everton are in the process of constructing a new stadium on the banks of the River Mersey at Bramley-Moore Dock, set to open in late 2024.
The unprecedented points deduction for Everton marks a significant moment in Premier League history. As the club grapples with this setback, sports fans and sports betting enthusiasts alike will be keenly watching how this situation unfolds, and what it means for the future of Everton.