Money laws threaten the existence of the most prestigious teams
There is no longer any tolerance for violating financial rules, whether in terms of the European Financial Fair Play Act, or in terms of the financial rules whose application seems to be strict in England. This is evident from the deduction of two additional points from Everton’s score due to their violation of the rules of the English Premier League.
An independent committee decided to deduct 10 points from Everton’s balance last November for violating the rules, which is the maximum penalty in the history of the English Premier League. This decision came after it became clear that the club exceeded the allowable amount of losses according to the league’s rules. The penalty was later reduced to 6 points in February following an appeal filed by the Northern club.
Everton currently has 27 points from 31 matches, placing them in sixteenth place, just two points away from the relegation zone to the second tier.
A statement from the League said: “An independent committee deducted two points immediately from Everton due to their violation of the league’s profitability and sustainability rules for the period ending in the 2022/2023 season.”
The statement added: “Following a three-day hearing last month, the committee heard evidence and arguments from the club regarding a range of potential mitigating factors for their admitted breach of £16.6 million.”
Everton reported losses amounting to £89.1 million ($112 million) for the 2023 season in the financial accounts announced last month. This represents a significant increase compared to the 2022 season, which showed a loss amounting to £44.7 million.
Everton, a nine-time league champion that has participated in the top level without interruption since 1954, announced their intention to appeal the decision.
Everton was not the only club punished this season. The English Premier League previously announced that they would deduct 4 points from Nottingham Forest’s score for violating the league’s financial rules, leading to their placement in a precarious position and making them one of the teams currently threatened with relegation.
The association reported at the time that Forest admitted to violating profitability and sustainability rules that allow for a maximum loss of $77.5 million, amounting to $43.9 million.
To protect teams from financial problems that could affect their continuity and their ability to fulfill their obligations towards players and others associated with them under various contracts, league clubs have the right to incur losses of up to $133.5 million over three seasons. This amount is reduced to $28 million for each season a club spends in the Championship.
Forest was promoted to the Premier League in May 2022, which means that they played in the Championship for two seasons.
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