Premier League confirms Everton’s new stadium’s actual cost following Farhad Moshiri’s uncertainty.
According to the Premier League‘s appeal board, Everton has invested over £800 million in the construction of their new stadium at Bramley Moore Dock, exceeding the initial forecasted cost by £300 million.
This significant expenditure has put considerable financial strain on the club.
Although Everton did not dispute their breach of Profit and Sustainability (PSR) rules, their appeal focused on how the initial commission assessed their case.
The PSR rules allow clubs a maximum three-year loss of £105 million, which Everton exceeded with losses totaling £124.5 million for the period from 2019-20 to 2021-22. They also face similar charges for the period from 2021-23.
Following the appeal, Everton’s points deduction was reduced from 10 to 6, positioning
them at 15th in the Premier League table and five points clear of relegation.
The appeal board criticized the initial commission for legal errors,
particularly regarding Everton’s transparency regarding stadium costs and the consideration of available benchmarks from the EFL.
Despite the reduction in points, Everton is still acknowledged to have breached financial
rules, leading to a six-point immediate deduction, deemed appropriate and proportionate by the appeal board.
In response, Everton expressed satisfaction with the reduction in the points
sanction while still processing the appeal board’s decision.
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