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Post by rugbytoffee on Oct 18, 2023 18:47:27 GMT
Mail Sport has learned that the independent commission began on Tuesday, with Everton and the Premier League making opening submissions in a behind-closed-doors hearing that is scheduled to conclude next week.
The Premier League are expected to publish the verdict and any sanctions imposed by the tribunal at some point next month without giving advance notice to the other clubs, but will be guided by the commission, who are not working to any set timeframe. Such is the level of secrecy surrounding the process that senior figures at Everton were unaware that the hearing had begun when contacted by Mail Sport earlier today.
Everton were charged by the Premier League in March with breaching Financial Fair Play regulations by posting financial losses of almost £372m over the previous years when the competition’s limit is £105m The club have strongly denied any wrongdoing however, and are confident of being cleared, as they claim they received allowances from the Premier League due to the financial impact of the COVID-19 pandemic. If Everton are found guilty the club will face a range of sanctions including a fine, transfer embargo or points deduction, which could have a major impact on the relegation battle.
The case could also have huge financial ramifications for the club and affect their proposed sale to 777Partners, as Burnley, Leeds and Leicester are threatening to sue Everton for £300m if they are found guilty.
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Post by rugbytoffee on Oct 25, 2023 15:27:29 GMT
Everton face 12-point penalty for financial breachesEverton face a 12-point deduction after an investigation into alleged breaches of financial rules by the Premier League club, according to a report on Wednesday. The Daily Telegraph said Premier League chiefs have asked an independent commission to impose the severe sanction, which would be the largest points penalty in the history of the competition. Losing 12 points would leave Everton on minus-five points at the bottom of this season's table. Sean Dyche's side are currently in 16th place with seven points after losing six of their first nine games. The Premier League referred Everton to the commission in March over an alleged breach of its profitability and sustainability rules over a period ending with the 2021-22 season. Top-flight clubs are permitted to lose a maximum of £105 million ($127 million) over a three-year period or face sanctions. Everton said in a statement issued on the day that news of the referral was confirmed: "The club strongly contests the allegation of non-compliance and together with its independent team of experts is entirely confident that it remains compliant with all financial rules and regulations. "Everton is prepared to robustly defend its position to the commission. The club has, over several years, provided information to the Premier League in an open and transparent manner and has consciously chosen to act with the utmost good faith at all times." Everton have recorded annual losses for five consecutive years, more than £430 million in total over the period. The club are the subject of a takeover bid by American private investment firm 777 Partners, which last week denied a New York Times report that its bid had stalled because of a failure to supply information to the Financial Conduct Authority. www.france24.com/
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Post by evertonfan1968 on Oct 25, 2023 18:08:57 GMT
How can they charge us when the rich clubs are doing what they want to?
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Post by halewoodblue on Oct 27, 2023 9:25:12 GMT
Not sure how they can charge us when it's related to the stadium costs
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Post by jimmy on Oct 27, 2023 13:40:55 GMT
How much did losing the Russian money effect us? I don't think they'll take 12 points off us.
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