Everton: Premier League refers club to independent commission over alleged breach of financial rules

Everton are 15th in the Premier League, two points above the relegation zoneEverton have been referred to an independent commission by the Premier League over an alleged breach of financial fair play rules.

The Premier League did not reveal the specifics of the club’s alleged breach, other than saying it occurred in the period ending with the 2021-22 season.

However, Everton have posted financial losses in several recent seasons.

The Toffees denied wrongdoing and said they were “prepared to robustly defend” their position.

Latest Everton news, analysis and fan viewsGet Blues news notificationsIn their statement, Everton added: “The club strongly contests the allegation of non-compliance and together with its independent team of experts is entirely confident that it remains compliant with all financial rules and regulations.

“The club has, over several years, provided information to the Premier League in an open and transparent manner and has consciously chosen to act with the utmost good faith at all times.”

In March 2022, Everton announced losses of £120.9m for the 2020-21 season.

That meant losses over a period of three years totalled £372m – more than three times the £105m permitted under Premier League rules.

The club said they remained “in a secure financial position” thanks to owner Farhad Moshiri – and blamed the Covid-19 pandemic for part of the losses.

Everton are also in the process of building their new Bramley-Moore Dock stadium.

They remain in a perilous position in the top flight, sitting 15th in the table – two points above the relegation zone.

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Source: BBC Sport | Read More