Everton will face no further action over their breach of Premier League profitability and sustainability rules up to 2023 after an investigation into stadium interest payments.
Everton were docked two points last April for a second breach of PSR rules but part of that charge, relating to interest on loans taken out for the club’s new stadium at Bramley-Moore dock, was unresolved.
The Premier League claimed Everton were entitled to capitalise only £2.06m of £19.02m in interest payments in their accounts for 2022-23 and had exceeded the £105m threshold by a further £16.96m. However, the case has now been dropped.
Quick Guide
How do I sign up for sport breaking news alerts?
-“http://www.w3.org/2000/svg” viewbox=”-3 -3 30 30″ aria-hidden=”true”>
- Download the Guardian app from the iOS App Store on iPhone or the Google Play store on Android by searching for ‘The Guardian’.
- If you already have the Guardian app, make sure you’re on the most recent version.
- In the Guardian app, tap the Menu button at the bottom right, then go to Settings (the gear icon), then Notifications.
- Turn on sport notifications.
A joint statement by the Premier League and Everton said: “The second part of the case was paused to allow time for the club to provide further information and documents to the Premier League board concerning the relevant accounting treatment adopted. After considering the further information and documents provided by the club in detail, the Premier League board has concluded that it would not be appropriate or proportionate to continue to pursue the second part of their complaint.”