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News
Everton could still be in PSR jeopardy due to £300m Leeds United plot
While their protracted takeover saga staggers on, Everton are still facing two potentially significant PSR issues.
Profit and Sustainability Rules (PSR), previously known as Financial Fair Play, limit Premier League clubs like Everton to losing a maximum of £105m over a rolling three💦-year period.
Last season, Everton were deemed by an independent commission to have exceeded this threshold for the 2021-22 and 2022-23 campaigns.ꦑ
They were docked a total ꦅof 12 points over the course of the season, although an appeal relatin💝g to the first breach saw the total reduced to eight.
However, the Premier League continue to dispute that Everton’s capitalisation of interes✃t payments on th🍬eir new stadium at Bramley Moore Dock should be excluded from their PSR calculation.
Infrastructure costs are exempt from PSR.
A new hearing over Everton’s PSR status will take place at some point this year, where an independent panel will 🦂rule on the interest payment capitalisation issue.
But tha🐬t is not the only PSR-related battle that the Tof🤪fees might have to win in the not too distant future.
Leeds United-backed group’s compensation claim against Everton
When it emerged that Everton had br🌜eached PSR in 2021-22 and 2022-23, when the swerved the bottom three by two and four points respectively, a number of relegated clubs were incensed.
Leeds United, Nottingham Forest, Southampton, Leicester City and Burnley believed that Everton had gained a sporting advantage by breaking the rules in✨ those campaigns.
It was later confirmed in officialꦅ documentation that those clubs were seeking compensation from Everton. The ‘s Matt Hughes reported that the total damages could amount to £300m.
There has been no official update since that juncture and the likes of Stefan Borson, a legal expert and former advisor to Man City, have speculated that the♐ case against Everton may not have been dropped.
After Leicester City won their PSR battle against the Premier League in controversial circumstances this week, the compensation claim has naturally become a subject✱ of discussion once again.
Incidentally, Nick De Marco, the world-renowned KꦓC representing Leicester in the case, was also due to represent the Leeds-backed group in the 💝compensation claim.
The next signal Everton could give that the case has been resolved will be if they do not mention it as a going concern in their 2023-24 accounts, which will be released early next ye💯ar.
That said, if the case was still ongoing, it would be unusꦗual if details had not been ♈leaked to the media.
Everton takeover latest
While PSR remains a lingering anxiety for Everton, the club’s future ownership is a far more signifi🦋cant and🌠 existential issue.
Farhad Moshiri, whose money appears to have run out, has been attempting to sell the club for over a year and has agreed an exclusivity agreement with American multi-club mogul John Textor.
There are, however, a number of hurd💮les to overcome.
Textor wants to list his🐷 Eagle Football Group on the New York Stock Exchange, while he would need to sell his 45 per cent stake in Crystal Palace befor🎐e the Premier League allowed him to buy Everton.
Questions have also been asked about whether Textor has the liquidity to service Everton’s debt, which stands at somewhere betweeܫn £600m and £700m.
That has not ♌stopped Textor, who owns five clubs in total, from operating as though Everton are already part🌠 of his multi-club empire.
Everton signed two players from Textor-owned Lyon this summer and came close to landing a third on deadline day, while youth player ဣFrancis Gomez went the other way on a loan deal.