Everton CHARGED with alleged Financial Fair Play breach after 10-month investigation
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Everton CHARGED with alleged Financial Fair Play breach after 10-month investigation following rivals’ questioning whether they had broken the rules having made significant losses over three years
Everton have been referred to an independent commission over alleged breaches of the Premier League’s profitability and sustainability rules, the governing body has announced.
The Merseyside club have been charged with breaches of the league’s Financial Fair Play rules related to the period ending with the 2021-22 campaign.
A 10-month investigation began in the spring of 2022 after the club’s relegation rivals Leeds and Burnley wrote to the Premier League questioning whether Everton’s significant losses over three years contravened the league’s rules.
Everton reported losses last season of £371.8m over three years, significantly above the £105m that the Premier League’s rules state a club can lose over a season.
Clubs found in breach of the regulations can be fined or deducted points as a result.
The Premier League have announced that Everton have been referred to an independent commission
It follows a 10-month investigation into the club’s financial dealings after Leeds and Burnley wrote to the Premier League last spring
‘In accordance with Premier League Rule W.82.1, the Premier League confirms that it has today referred an alleged breach of the League’s Profitability and Sustainability Rules by Everton Football Club to a Commission under Premier League Rule W.3.4.
‘The assessment period for which it is alleged that the Club is in breach is the period ending Season 2021/22,’ the league said.
‘Commissions are independent of the Premier League and member clubs. The members of the Commission will be appointed by the independent Chair of the Premier League Judicial Panel, in accordance with Premier League Rules W.19, W.20 and W.26.
‘The proceedings before the Commission will, in accordance with Premier League Rule W.82, be confidential and heard in private.
‘Under Premier League Rule W.82.2, the Commission’s final award will be published on the Premier League’s website. The League will be making no further comment until that time.’
The news is likely to concern supporters of the club, with their Premier League status in a perilous position amid one of the tightest relegation battles in recent memory.
Last season the club managed to escape following a penultimate-game victory over Crystal Palace, though that win came under a shroud of questions surrounding the club’s finances following Leeds and Burnley writing to the Premier League.
The club have been charged with an alleged breach of the league’s Financial Fair Play rules
Last year, Everton responded to allegations of financial irregularities claiming they had done nothing wrong.
‘We have worked closely with the Premier League to make sure we are compliant,’ a spokesman said.
‘We are comfortable that we have complied with the rules. External auditors have told us what we can and cannot claim against the pandemic. If clubs want to take legal action that’s their decision.’
They are yet to comment on the latest news.