Everton could face £300m legal claim over FFP claims
Everton FC could be hit by a £300m legal claim if the club is found guilty of breaching Premier League financial rules later this month.
A hearing is scheduled for October 25, linked to Financial Fair Play guidelines, and any legal action could jeopardise the club’s proposed takeover by Miami investment vehicle, 777 Partners, it is claimed.
The Premier League launched the probe following a fifth consecutive pre-tax loss revealed in Everton’s latest accounts earlier this year.
Profit and Sustainability rules mean clubs cannot lose more than £105m over a three-year period. Everton has suffered a £313.5m loss for the previous three years.
The club says an element of that was due to COVID-19 restrictions. It said it has worked closely with the Premier League on its accounts, and denies breaching any FFP rules.
However, Burnley, Leeds United and Leicester City, who have all been relegated, have written to the Premier League informing it they will sue, for £100m each, if Everton is found to have breached the rules, claiming the Blues have gained an unfair advantage, according to the Daily Mail.
Burnley has since regained its Premier League status.
It is feared that any legal action could jeopardise the deal with 777 Partners, which is still to be ratified by football and finance watchdogs.
The Mail claims the three clubs have written to 777 Partners regarding the claim, but it is understood no such correspondence has, so far, been received.
Also, any potential fine is likely to be the responsibility of the vendor, current Everton owner, Farhad Moshiri, and not 777 Partners.
Everton FC has declined to comment.
