Everton is facing a grim financial situation as they have been hit with a 10-point deduction for losing £124.5m over a three-year period, well above the Premier League’s permitted threshold. On top of this, reports suggest that Burnley, Leeds United, and Leicester City are planning to sue Everton for a staggering £300m, claiming that their spending breaches financial rules.
If the legal action is successful, Everton could be plunged into administration and receive an additional nine-point penalty. This would almost certainly relegate them from the Premier League. Prospective buyers 777Partners have committed to providing financial aid to help with the club’s running costs, but they are not willing to pay a compensation bill that could amount to tens of millions of pounds.
In the midst of this crisis, Everton is also appealing their 10-point deduction, with sources within the club expressing confidence that the penalty will be significantly reduced. However, the future looks uncertain as the club’s current regime lacks the funds to settle a compensation bill, leaving Everton on the brink of financial disaster.
