After being sanctioned on November 17 due to a breach of Profit and Sustainability Rules (PSR), Premier League side Everton have had their appeal heard this week with a decision due to be made by mid February.
The team were dealt the heavy blow after they were referred to an independent commission in March of last year. Following a five-day hearing Everton were found to have made a total loss of £124.5m over five consecutive years.
PSRs state that teams are only permitted to have a loss of £105m over a three-year period. The appeal hearing began on 31 January and ended on 2 February. The point deduction was the largest in Premier League history and caused Everton to plummet to the relegation zone.
In a statement, the club said it “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 are also facing another possible points deduction after they were charged earlier this month for further breaching of rules. They were charged alongside Nottingham Forest, with cases still ongoing for the likes of Manchester City and Chelsea.
Following the second charge, Everton released a statement saying “The Premier League does not have guidelines which prevent a club being sanctioned for alleged breaches in financial periods which have already been subject to punishment, unlike other governing bodies, including the EFL.
“As a result - and because of the Premier League’s new commitment to deal with such matters “in-season” - the Club is in a position where it has had no option but to submit a PSR calculation which remains subject to change, pending the outcome of the appeal.
“The Club must now defend another Premier League complaint which includes the very same financial periods for which it has already been sanctioned, before that appeal has even been heard.”
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