April 8, (THEWILL)- In a further blow to Everton’s turbulent season, the English Premier League has imposed an immediate two-point deduction on the Merseyside club for breaching the league’s profitability and sustainability rules (PSR), for the 2022/2023 season.
The penalty, determined by an independent commission that the EPL referred Everton to in January, is the club’s second such deduction of the campaign. The initial 10-point penalty, later reduced to six points, was related to the three-year accounting period ending in the 2021/2022 season.
Everton’s latest deduction has dropped them down a place to 16th in the EPL standings, now sitting just two points above the relegation zone. The independent commission, after hearing evidence and arguments from the club, deemed the appropriate sanction to be a two-point deduction, effective immediately.
In a statement, the League reaffirmed the principle that “any breach of the PSRs is significant and justifies, indeed requires, a sporting sanction.” Everton have confirmed they will now appeal against the second penalty, while the EPL also reserves the right to appeal for a harsher punishment.
The club’s financial difficulties have been laid bare in their latest accounts, which showed an £89.1 million ($112.5 million) loss for the 2022/2023 season. Everton’s debt has risen to £330.6 million, largely attributed to “significant investment” in their new stadium project at Bramley-Moore Dock, scheduled to open in 2025.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
