Frank james, English association football manager

Liverpool [United Kingdom], March 25 : Everton's struggle in the Premier League is now not only restricted on the pitch. Their problems have now started to reflect on the financial level as well. They released a statement on Friday which confirmed that the Premier League has charged Everton with an alleged breach of Financial Fair Play rules last season.The official statement released by Everton said, "Everton Football Club is disappointed to hear of the Premier League's decision to refer an allegation of a breach of Profit & Sustainability regulations to an independent commission for review. The Club strongly contests the allegation of non-compliance and together with its independent team of experts is entirely confident that it remains compliant with all financial rules and regulations.""Everton is prepared to robustly defend its position to the commission. The Club has, over several years, providing information to the Premier League in an open and transparent manner and has consciously chosen to act with the utmost good faith at all times. The Club will not be making any further comment at this time."According to Premier League rules a team can only incur a maximum loss of £105 million over three years. However, special allowances were given due to the Covid-19 pandemic. However, Everton ended up recording a loss of £372 million over the past three years.Financial Fair play rules were introduced to stop Premier Leagues club from spending a lot of money on players and running up with huge losses. Premier League title defenders Manchester City were referred with more than 100 alleged financial fair play breaches.If Everton is found guilty, they could face possible points reduction or fines. Unlike Manchester City, Everton's struggle on the pitch is quite evident. Even in the last season Everton barely managed to avoid relegation by turning a two-goal deficit into a 3-2 victory against Crystal Palace. Even this season they currently sit in the 15th position. Two points currently separate them from the relegation zone. Sean Dyche took the charge from the hands of Frank Lampard to salvage the season.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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