Everton has decided to drop their appeal against a two points deduction for violating Premier League profitability and sustainability regulations, deeming their chances of success unlikely. The appeal was initiated following a second points deduction on April 8th due to a £16.6 million overspend until 2023. Previously, Everton had been penalized 10 points later reduced to six for breaching regulations by £19.5 million until 2022.
Although an independent commission was scheduled to commence Everton’s appeal on Monday, the club’s legal team, upon reviewing Nottingham Forest unsuccessful attempt to overturn a four-point deduction, opted against proceeding. Everton recent surge under manager Sean Dyche which earned him the Manager of the Month award for April secured their Premier League status this season.
However, Everton still faces the prospect of another hearing regarding their 2023 breach and the potential for a third points deduction. This comes after the previous commission failed to resolve a disagreement between the club and the Premier League concerning stadium interest payments. The Premier League contends that Everton unlawfully capitalized £23.46 million in stadium interest payments in their accounts, a claim the club disputes.
In a statement released on Friday, Everton announced “Everton Football Club has withdrawn its appeal of the decision by a Premier League independent commission to impose a two points deduction on the club for a breach of the Premier League profitability and sustainability rules for the accounting period ending in June 2023.”
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