Before this setback, Sean Dyche’s team was holding the 14th spot, having managed four wins, two draws, and six defeats in their first 12 matches. However, this unprecedented deduction has knocked Everton down to 19th place in the table.
Everton is determined to contest this decision through an appeal, aiming to overturn the verdict. Currently, they find themselves just above Burnley in 19th place due to goal difference, a stark fall from grace considering their initial standing based on their season’s start.
Their hard-earned points from the first 12 games have now dwindled to a mere four points, erasing much of the progress made during their promising beginning.
The club had been under scrutiny since March due to alleged breaches pertaining to the 2021-22 season. A hearing took place recently as Everton faced allegations of staggering financial losses, nearly £372 million over three years, far exceeding the league’s permitted financial threshold by over £250 million.
The Premier League had been pressing for a substantial points deduction as they charged Everton with breaking financial regulations in the 2021-22 season. The core issue revolves around accounting treatments, specifically concerning Everton’s profits and sustainability rules (PSR).
Everton vehemently denies any wrongdoing, attributing their substantial financial losses to the development of a new stadium at Bramley Moore Dock. They argue that these losses were due to permissible interest payments linked to the stadium construction.
Despite their denials, Everton’s season now faces a chaotic turn with a relegation battle becoming a pressing concern once again.