Everton’s hope of surviving relegation have received a big setback after the Premier League deducted two points for breaching financial rules, the second time the club has faced points deduction this season.
Premier League regulations stipulate that a club can lose no more than £105 million ($132.54m) over three years.
“Over a three-day hearing last month, the independent Commission heard evidence and arguments from the club in respect of a range of potential mitigating factors for its admitted breach of £16.6 million, including the impact of its two successive PSR charges,” the Premier League said in a statement.
“Having done so, the Commission determined the appropriate sanction to be a two-point deduction, taking effect immediately.”
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The points deduction means Everton have dropped one place in the Premier League table to 16th, two points above the relegation zone.
The Premier League added that there remains a dispute over the accounting of Everton’s new stadium, the league argues that stadium funds should be recorded as losses with regards to PSR, while Everton argues to the contrary.
The league said that Everton could yet face an additional penalty and that it will be resolved “at a later date,” although it is unlikely to be concluded this season.
Everton announced in a statement that they plan to appeal the decision and have begun preparations to do so, adding that the club is “extremely concerned by the inconsistency of different commissions in respect of points deductions applied.”
(Editor: Paul Akhagbemhe)
