Everton’s fate took a tough turn as they were slapped with a 10-point penalty following a review by an independent panel, all due to a suspected breach of the Premier League’s financial rules.
This immediate punishment saw the team drop into the dreaded relegation zone, plunging from a hopeful 14th position to a challenging 19th spot.
The club and the authorities are now in a back-and-forth with statements and replies in the aftermath of this decision.
Everton had been enjoying some positive strides in their recent games under Sean Dyche’s leadership, but this setback casts a shadow over their progress, dragging them into a heated battle to avoid relegation.
The panel’s decision came after Everton reported staggering financial losses, surpassing the Premier League’s permitted threshold by over £250 million.
The possibility of appealing this verdict remains open for both sides, leaving uncertainty hanging over their next move.
The punishment could have been more severe, with a potential 12-point deduction on the table. Additionally, the timing of when this penalty takes effect was left to the committee’s discretion.
This verdict also has implications beyond the pitch. An American investment group, led by entrepreneur Josh Wander, has been waiting for Premier League approval to take over the majority stake in Everton. However, this turn of events might impact the deal’s final price.
Despite these off-field challenges, Everton had been on an undefeated streak for almost a month following their loss in the Merseyside derby. Victories over West Ham and Crystal Palace, along with a draw against Brighton, had helped them climb to a comfortable 14th position.
But with tough games against Manchester United, Newcastle, and Chelsea on the horizon, fans brace themselves for a challenging period amidst the turmoil surrounding the club’s situation.