20 November 2023 , 12:23
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Everton might still be reeling from being deducted 10-points in the Premier League - but they may now have to brace themselves for further pain.
On Friday, the club learnt their fate for falling foul of profit and sustainability rules. Interim CEO Colin Chong labelled the decision "unprecedented and disproportionate," and despite admitting wrongdoing has vowed to appeal the sanction.
But the Toffees are still liable for further punishment if their next set of accounts also contain breaches. According to The Times, Premier League bosses have now confirmed that they are able to dish out a second penalty if a club falls foul of Financial Fair Play regulations in consecutive seasons.
Accounts for the year ending June 2023 have to be submitted by the end of next March, but clubs are required to provide visibility by December 31 so profit and sustainability compliance can be assessed. Everton made losses of £120.9million in 2021 and £44.7million in 2022, and fans now face an anxious wait for results from this year.
The ongoing project of building the new stadium at Bramley-Moore Dock has undoubtedly put a strain on finances. However, selling Anthony Gordon to Newcastle in January raised £45million, while Sean Dyche spent around £35million in the summer.
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But the financial disaster that Premier League relegation would represent is now a distinct possibility. The deduction has left Dyche's side in the bottom three, two points adrift of safety.
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And it's not just further punishment from the Premier League hovering over the club. Burnley, Leeds, and Leicester City have all indicated their intention to sue Everton for a cumulative sum of £300million.
Leeds and Leicester were both relegated to the Championship on the final day of the 2022/23 season, while Everton survived courtesy of a 1-0 win over Bournemouth. Burnley went down in the previous campaign, and claim that Everton's spending breached financial rules in that season too.
Prior to Friday's bombshell, the three clubs had already written a joint letter to the Premier league notifying them of plans to take legal action in Everton were found guilty. And following the decision, representatives of each met to reaffirm those plans.