The Premier League has charged Everton with violating its Financial Fair Play (FFP) regulations in relation to last season and has initiated a charge against the club.
According to the league, Everton has allegedly incurred losses of £371.8m over the last three years, which is significantly higher than the maximum permissible limit of £105m for that period.
In accordance with Premier League Rule W.82.1, an independent commission will investigate the breach of the League’s Profitability and Sustainability Rules by Everton Football Club. The alleged breach pertains to the period ending in Season 2021/22.
The proceedings before the Commission will be confidential and held in private, as per Premier League Rule W.82.
The final decision of the Commission will be published on the Premier League’s website, in accordance with Premier League Rule W.82.2. The league will refrain from making any further comments until the Commission’s verdict is released.
As of now, Everton has refrained from issuing any statement regarding the charges. However, a spokesperson for the club has denied any misconduct during the last season, asserting that they have been working in close association with the Premier League to ensure compliance with the regulations.
According to the spokesperson, Everton is confident that they have adhered to the rules, and external auditors have apprised them of what expenses can be attributed to the pandemic. The spokesperson added that if any club decides to take legal action, it is their prerogative to do so.