March 24th 2023.
Everton have issued a statement expressing their intention to 'robustly defend' themselves after being charged with an alleged breach of the Premier League's Financial Fair Play (FFP) rules. They have declared that they have conducted themselves in an 'open and transparent manner' throughout.
The charge follows a 10-month investigation which began when Burnley and Leeds United wrote to the Premier League in May enquiring if Everton had violated the FFP regulations. Teams are allowed to incur a maximum loss of £105 million over three years, however, Everton recorded losses of £371.8 million in the same period.
Clubs were permitted to write off losses caused by the coronavirus pandemic with the Merseysiders claiming £170 million of their losses were due to the pandemic.
(Image Source: https://metro.co.uk) Subsequently, the Premier League have now referred the Toffees to an independent commission over the alleged breach of its profitability and sustainability rules concerning the 2021-22 season. This could lead to a fine or even a points deduction.
In response, Everton have declared themselves 'disappointed' with the decision and are ready to contest the charge. A statement was released saying that the club 'strongly contests the allegation of non-compliance' and is confident that it has complied with all financial rules and regulations.
(Image Source: https://metro.co.uk) Thus, Everton have been referred to an independent commission.
The club has asserted that it has performed in an 'open and transparent manner'
Everton have issued a declaration saying that they will 'vigorously defend' themselves after being charged with a supposed infringement of the Premier League's Financial Fair Play regulations.
The accusation has followed a 10-month examination which began when Burnley - who were consigned to relegation last season - and Leeds United wrote to the Premier League in May to inquire as to whether Everton had broken the FFP rules.
Teams are allowed to incur a maximum of £105million over three years, but Everton recorded losses of £371.8m over that time period.
Clubs were given permission to write off losses caused by the coronavirus pandemic, with Everton claiming £170m of their losses were due to the pandemic.
The Premier League has now referred the Toffees to an independent commission over the supposed violation of its profitability and sustainability regulations particularly concerning the 2021-22 season and they could face a fine or even a deduction of points.
Everton, however, express that they are 'disappointed to hear of the Premier League's decision' and plan to dispute the charge.
A statement on Friday read: ‘The club firmly 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.
Consequently, Everton has been referred to an independent commission
‘Everton is ready to strongly defend its place to the commission.
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