Premier League drops PSR charges against Everton
Today at 12:19 PM
The club have resolved all outstanding issues, are compliant for 2024 and will face no further action
Everton Football Club are now officially in the clear financially.
The Premier League had brought up two separate sets of charges against the Toffees last season, claiming breaches of Profit and Sustainability Rules, and went on to deduct ten points from the club as well. Despite that the club did enough to overcome that giant hurdle and still finish in 15th place.
There had been some doubts that there would be further charges leveled against the club this season, but last week the Premier League announced that no clubs were found to have breached PSR.
This was confirmed earlier today in a joint statement released by both the club and the league, stating that Everton are in compliance for 2024 and that the second part of the PSR complaint for 2023 was being discontinued.
Everton Proceedings Discontinued
The outstanding element of the complaint against Everton Football Club for its breach of the Premier League's Profitability and Sustainability Rules for the period ending Season 2022/23 has been discontinued meaning that the Club will face no further action.
Following the Club being charged in January 2024, in March 2024, an independent Commission split the case into two parts:
The first part imposed a two-point deduction on the Club for its admitted breach of £16.6 million, following a hearing in March 2024. Click here to read the Commission's decision. Everton initially sought to appeal the Commission's decision in May 2024 but withdrew the appeal and the two-point deduction remained in place in Season 2023/24.
The second part of the case primarily concerned the appropriate treatment of interest payments relating to the Club's new stadium and whether the accounting treatment adopted by the Club impacted the extent of the Club's admitted breach. The second part of the case was paused to allow time for the Club to provide further information and documents to the Premier League Board concerning the relevant accounting treatment adopted.
After considering the further information and documents provided by the Club in detail, the Premier League Board has concluded that it would not be appropriate or proportionate to continue to pursue the second part of their complaint.
The Club and the League agree that this brings to an end all proceedings between the League and the Club in relation to the Club's breaches of the PSR for the financial years ending 30 June 2022 and 30 June 2023.
The Commission's Consent Award, recording the terms on which the second part of the case has been discontinued, can be found here.
While this is great news in itself, what remains to be seen is what Everton will be able to spend during this January transfer window to give new manager David Moyes some new players for the relegation battle ahead.
