A New Standard Set

The Premier League has sent a strong message to clubs that it is serious about enforcing its financial rules. After Everton received a ten-point deduction, the biggest penalty in the league's history, for breaching the Profitability and Sustainability Rules, all eyes are now on Chelsea and Manchester City. The independent commission that handed down the punishment made it clear that the Premier League has an obligation to come down hard on clubs that try to cheat the system. This verdict has transformed the entire financial framework of the league.

Everton Calls for Equal Action

Everton, reeling from the severe penalty, has called for equal action to be taken against other clubs that have breached the financial regulations. The club's statement criticized the "harshness and severity" of the punishment and expressed interest in the decisions made in other cases. Everton's punishment raises questions about why other cases, such as the ongoing investigation into Manchester City's finances, are taking so long to conclude. The club feels it is being used to show that an independent regulator is unnecessary.

The Charges Against Everton

The independent commission found that Everton had breached the Premier League's Profitability and Sustainability Rules by exceeding the permitted losses. Despite posting losses of £372 million over three seasons, the club was found to have breached the allowed loss by £19.5 million. The commission's report described the breach as serious and deserving of a significant penalty. Everton argued that external factors, such as the Ukraine war and the Covid-19 pandemic, contributed to their financial difficulties. The club plans to appeal the decision.

The Defense Presented by Everton

Everton attempted to argue that they should be given extra leniency for not suing a player who was arrested and subsequently sacked. The club claimed that the £10 million they could have demanded from the player should have been included in their losses, minimizing the breach of league rules. However, the commission dismissed this argument as speculative. Everton also claimed that they missed out on the transfer value of another player due to Covid-19, but the commission found that the club had made a decision not to sell. The Premier League was underwhelmed by Everton's defense.

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