Another major points deduction in store for Everton next season

The present financial crisis at Everton has sparked speculation about possible points deductions and perhaps administration if urgent action is not taken. Many looked to the purchase by 777 Partners as a vital lifeline. Even more worrisome for Everton's finances is the fact that the sale has fallen through. As a result, the American company […] The present financial crisis at Everton has sparked speculation about possible points deductions and perhaps administration if urgent action is not taken. Many looked to the purchase by 777 Partners as a vital lifeline. Even more worrisome for Everton‘s finances is the fact that the sale has fallen through. As a result, the American company is now allegedly in legal hot water. The club’s loans from 777 Partners have ballooned to over $255 million. After the $637 million takeover bid fell through, Everton’s financial woes have become much worse. Because of this, the Premier League side cannot make enough money to comply with the Profit and Sustainability Rules. Thus, it may lead to serious consequences, such as another points deduction. A prior infraction of these regulations resulted in Everton losing $474 million over three years; and to make matters worse, the club was penalized with eight points off its total in 2023/24. As the new fiscal year begins, the club is currently $113 million in the red; further losses of $20 million will put them over the $133 million mark once again. Everton suffered from points deductions in most recent campaign The Toffees could have to sell off important players to balance the budget and stay out of administration. Time is of the essence since the club’s fiscal year concludes on June 30. One consequence of going into administration might be a nine-point penalty for the next season if Everton fails to raise enough money. The sale of many players after the fiscal year may be necessary for Everton to avoid administration and further fines. Key players potentially on the market include Jordan Pickford, Jarrad Branthwaite, Abdoulaye Doucoure and Amadou Onana. Meanwhile, the club could also be looking into making a profit out of Dwight McNeil and Dominic Calvert-Lewin. Rumor has it that American billionaire John Textor, who has a share in Crystal Palace, is considering a bid for the Liverpool side. Although there is a possibility, it may take months to complete and would not prevent the current financial situation. In addition to the $955 million Bramley Moore Dock stadium, the team needs another $255 million to finish building it. The 58-year-old Textor would have to wait months to cut his Eagles holding to 10% before he could purchase Everton. “There are other people who already own pieces of that club,” he recently revealed. What does Everton say? For the time being, however, Everton has rejected rumors that they are about to incur a points punishment or go into administration. Club insiders deny rumors that a liquidation sale is essential to staying in business. Nevertheless, maintaining financial stability is of the utmost importance. In a statement, director Kevin Thelwell said: “The reality is, given the regulations in place and the club’s current financial position, we have to trade well. Whilst we want to ensure the team is as competitive as possible, we cannot lose sight of our central objective to protect the long-term stability of the club. “That does mean players will be sold, and also that every tool at our disposal will be used to secure new additions to the squad, including utilization of the loan market.” PHOTOS: IMAGO