Everton withdraw two-point deduction appeal after securing Premier League survival
Everton’s fight against a two-point deduction for breaching Premier League financial regulations has come to a halt, with the club officially withdrawing its appeal after assessing their chances.
The Toffees appealed after they were hit with a second points deduction for exceeding permitted financial losses in April.
They were previously docked ten points for a £19.5 million breach up to 2022, but it was later reduced to six on appeal.
The decision to abandon the appeal comes after Everton lawyers reviewed the recent dismissal of Nottingham Forest’s attempt to overturn their own four-point deduction.
Recognising the similarities, Everton opted to cut their losses and focus on the future.
However, the financial saga may not be over for Everton. The club still faces another Premier League hearing concerning their 2023 financial practices. This could potentially lead to a further points deduction.
The crux of the issue lies in a disagreement between Everton and the Premier League regarding stadium interest payments.
The League alleges that the club was not entitled to capitalise on £23.46m of these payments, a claim vehemently contested by Everton.
A club statement read: “Everton Football Club has withdrawn its appeal of the decision by a Premier League independent commission to impose a two-point deduction on the club for a breach of the Premier League’s profitability and sustainability rules for the accounting period ending in June 2023.”
Everton’s latest stance comes after the club secured their Premier League status thanks to an exhilarating finish that has brought Sean Dyche the Manager of the Month award for April.
The Blues lost just one of their six games in April (W4, D1) – a solitary defeat that came at Stamford Bridge, where they suffered a 6-0 thumping at the hands of Chelsea.
However, Dyche’s side provided a stunning response to the setback, winning three consecutive home games against Forest, Liverpool, and Brentford by a combined scoreline of 5-0.
The Toffees take on relegated Sheffield United on Saturday before closing out a turbulent 2023/24 campaign away at Arsenal.