Football
Everton in DANGER of being sued for £300 MILLION by rival clubs

Everton in DANGER of being sued for £300 MILLION by rival clubs

Everton: Everton were already charged by the Premier League in March for an alleged breach of the rules of Financial Fair Play. As they now sit 1 place above the relegation zone, their rivals could be suing Everton for £300 million. As per reports, Nottingham Forest, Leicester City, Burnley, Leeds United, and Southampton, all are […]

Everton: Everton were already charged by the Premier League in March for an alleged breach of the rules of Financial Fair Play. As they now sit 1 place above the relegation zone, their rivals could be suing Everton for £300 million. As per reports, Nottingham Forest, Leicester City, Burnley, Leeds United, and Southampton, all are prompting Premier League regarding the case. They are also pursuing compensation from Everton in the matter. Follow Premier League LIVE Updates on InsideSport.IN.

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Leeds United and Burnley made official complaints to the Premier League regarding Everton’s colossal financial loss in May, 2022. It was alleged that Everton actually suffered a £372 million loss in the last 3-year time period. If the claims ring true, then this will be a breach of the Profit and Sustainability rules. As per Premier League’s rules, the limit to a club’s loss can be till £105 million. This means that their loss has exceeded £267 million from the limit.

The loss excludes the amount of money the club has spent on community projects, women’s football, or infrastructure. Considering recent times, it also excludes the amount of loss the club suffered due to covid. As per Everton’s current accounts, they have suffered a loss of £90.4 million in the last 3-year period. That means, their total loss amount comes down to £223.1 million which also exceeds the limit to a great amount.

Everton released a statement following the case, saying, “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.”

They added, “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. The club will not be making any further comment at this time.”

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Even though Leeds United and Burnley made complaints to the Premier League last year, it still took them a 10-month-long investigation. However, now Nottingham Forest, Leicester City, and Southampton joined with Leeds and Burnley to ask Premier League to prompt the investigation.

Southampton, Leicester City, and Leeds United are at the bottom of the table and will probably get relegated. Nottingham Forest are sitting just one place above 17th-placed Everton. While Burnley became the table leader in the Championship and are getting promoted.

However, they got relegated last season and missed a lot of TV money. That will be the same for the teams who will be relegated this season. Their loss after the parachute payments deduction is estimated to be £100 million. That’s why they believe that each club will be entitled to £100 million if the case is proven. They also want the investigation to end this season in case their points are deducted as a result of the punishment.

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