Everton have withdrawn their appeal against the club’s two-point deduction for a breach of the Premier League’s profitability and sustainability rules (PSR).
The penalty, imposed by an independent commission that the Premier League referred Everton to in January, is the Merseyside club’s second of the campaign and relates to the three-year accounting period ending in the 2022-23 season.
Everton were hit with a 10-point penalty in November for a PSR breach relating to the three-year period ending in the 2021-22 season, though that was reduced to six in February upon appeal.
Everton had previously announced their intention to appeal the punishment but confirmed on Friday that they had withdrawn this decision, with a hearing scheduled for later in May no longer required.
Club Statement. pic.twitter.com/RCdJEQpRF0
— Everton (@Everton) May 10, 2024
Despite the loss of eight points across the two deductions, Sean Dyche’s side are safe from Premier League relegation this season. Everton are 15th in the Premier League standings and 11 points clear of the relegation zone with two rounds of matches remaining.
The Premier League, PSR and points deductions
Premier League clubs undergo yearly evaluations to ensure compliance with the league’s profitability and sustainability regulations.
This assessment is based on the club’s profitability and sustainability calculation, which aggregates their adjusted earnings before tax over the evaluation period.
League regulations stipulate a maximum allowable loss of £105m ($128.4m) over three years. However, Everton’s losses totaled £370m between 2018 and 2021 and £260m for the two COVID-19-impacted seasons (2019-20, 2020-21).
In March, the club asserted in a statement their full confidence in their compliance with all financial rules and regulations.
(Tony McArdle/Everton FC via Getty Images)