Everton Football Club has initiated an appeal process challenging the two-point deduction handed down for not adhering to the Premier League’s financial fair play regulations, as per recent reports on Monday.
The club has acknowledged exceeding the allowed financial losses by £16.6 million ($20.7 million) for the period concluding with the 2022/23 season, thus violating the league’s profitability and sustainability rules (PSR).
This recent sanction comes on the heels of a reduction from a ten-point to a six-point deduction for the preceding three-year cycle ending in 2021/22, following a successful appeal.
Under PSR guidelines, football clubs are permitted to incur losses up to £105 million across three years.
Positioned 16th in the league standings, Everton stands just two points clear of relegation, with seven matches remaining.
The club’s total point loss for the season amounts to eight, following the penalties.
In a similar vein, Nottingham Forest, who are also battling relegation, filed an appeal last month against a four-point deduction.
Everton is set to face Chelsea, who are currently in the middle of the league table, in a match later on Monday.
