6 + 2 Point Deductions

[kenada_blue]

The punishment I take major issue with.

Our guilt, for me, is not in question.

Everyone does.

Apart from your multi who made a good case as to why 10 points and hopes for a further 5 is 100% deserved

 

[hallamblue]

I have never booed an Everton player at a game!!!!!!

I knew there'd be one! I'm afraid it's all part of the inevitable decline of some players. Ratcliffe would still be playing centre half if we hadn't booed him

 

[Goat]

So he is wrong about how leniantly we've been treated, and also what a shambolic process has been conducted as pointed out by Andy Burnham.

And he's a rat

To be fair, I have him on ignore, I saw people abusing him, I read the post I replied to and thats all ive read that he said, I have no idea what else he has said and I do not blanket support everything hes typed.

 

[BlueStevie35]

Where in the report does it say the secretary of state had no issue with Everton breaking basic accountancy rules?

As for building a stadium. Of course, it is possible all you have to do is get planning BEFORE you start spending tens of millions of pounds.

We did you utter ferret

Explain again why your last account was banned and why, conveniently you went missing for over 2 months only to reappear after yesterday’s news

 

[MACCA75]

I noticed nobody has discussed the points he raised and merely just called him a kopite.

But I get it, people need a Monster.

"So instead of this being a witch hunt against us the Premier League actually helped us out. They also allowed us to include much bigger COVID losses £170m almost double the next biggest losses which was Arsenal at £86m followed by Villa at £56m."

I thought this was his best line.

Would LOVE somebody to explain that 1 to me.

Think it’s fair to say that the rules are outdated, ill thought out with a punishment that was ludicrously harsh and contradictory to their entire purpose AND Everton have been dishonest, evasive and definitely in breach.

 

[Goat]

Think it’s fair to say that the rules are outdated, ill thought out with a punishment that was ludicrously harsh and contradictory to their entire purpose AND Everton have been dishonest, evasive and definitely in breach.

Well its pretty stupid that there are rules in place, yet the punishments were never agreed on beforehand.

I maintain that a robust legal defence should be able to poke multiple holes in the whole sorry process.

 

[blue to the bone]

We did you utter ferret

Explain again why your last account was banned and why, conveniently you went missing for over 2 months only to reappear after yesterday’s news

Again . I'll repeat this
Why respond to him
If no one does he disappears.
He's making a fool out of plenty here

 

[Quadvod]

We’re bang to rights - utter incompetence at boardroom level has led us here. The only arguments we’ve got is querying the severity of the first punishment and the double jeopardy argument which I do think has a lot of merit.

 

[CrimsonToffee]

Think it’s fair to say that the rules are outdated, ill thought out with a punishment that was ludicrously harsh and contradictory to their entire purpose AND Everton have been dishonest, evasive and definitely in breach.

Perfect summary of the whole thing. Wish I could like it more than once!

 

[Goat]

Wonder why our utter clown show havent released the latest accounts yet by the way?

 

[PhilRegan]

I've just woke up is everything alrite ?

 

[ForeverBlue92]

We are banged to rights.

We have admitted that most of our PSR exclusions were false. The two we are clinging to are the Stadium interest and the transfer levy. The Premier League has documentation showing two things. That the terms of the loan state it was not for Stadium funding and secondly that Moshiri was providing interest-free loans for the Stadium.

The transfer levy is even more ludicrous. It primarily goes to top-up pension funds and is not for youth development.

You can pay for the best Barrister on the planet but it is pointless if he has no grounds to challenge the decision of the Independent panel.

Is that you Richard ?

On your point in bold, if the stadium wasn't being built and paid for out of the clubs pocket (and was instead paid for via a drain on the tax payer) there would likely have been no need for the other loan thats claimed to have been towards the running of the club.

You may have a credit facility that you use to help service your monthly bills but if your mortgage jumps up by £500 a month (inflation due to Ukraine war) and your overtime in work is cut (USM sponsorship) then you may need to take out a further credit facility to help keep the bank at bay.

Just because you use some of that loan on the weekly food shop doesn't negate the fact that had the mortgage not increased and your income hadn't been cut, you wouldn't have needed said loan in the first place.

Thats essentially what has happened. But maybe you would have been happy for Big Joe to have funded the ground from your Council Tax ?

 

[blue61]

I've just woke up is everything alrite ?

Woke isn't allowed on here, only full on aggression.

 

[Baileys perm]

So sad that the vast majority on here would rather shoot the messenger than come up with a counterargument.

My argument is your a snake and

That is completely and utterly wrong. Basic accounting procedures mean that expenditure cannot be capitalised until something is probable. Something is not probable until planning is granted. That isn't a Premier League rule it is the cornerstone of FRS 102.

We breached PSR rules two years ago and could have been charged with non-compliance.

What actually happened is that the Premier League and the club came to an agreement that the Premier League would not invoke rule E.51.2.. That meant we avoided being charged and a probable points deduction.


The 13 August 2021 agreement contained the following
(amongst other) terms.
1.2 During the Club's financial years 2017-2020 (inclusive), prior to the
financial year when planning permission for the Stadium was obtained,
the Club incurred costs of approximately £39,346,000 in respect of the
Stadium (the “Stadium Costs”). Given that the Stadium Costs were
incurred in the financial years prior to planning permission being
granted, under applicable accounting regulations, these costs cannot be
capitalised and must therefore be included in the Club’s PSR
Calculation.
1.3 The Club is forecast to be non-compliant with Rule E.51 of the Rules
by:
1.3.1 having a PSR Calculation with losses in excess of £105 million
(the “Threshold”) for Season 2020/21; and
1.3.2 potentially Season 2021/22 and 2022/23
(together the “Potential Non-Compliance”).
1.4 Subject to compliance by the Club with the conditions set out in
paragraph 2 of this Agreement (the “Conditions”), the Premier League
agrees that it will not, either during the Term or at any time after (i)
exercise its powers set out in Rule E.15 in respect of the Potential Non-
Compliance and/or (ii) refer the Potential Non-Compliance to a
Commission pursuant to Rule E.51.2.
2.1 The Club’s PSR Calculation for Seasons 2020/21, 2021/22 and 2022/23
(after the application of any mitigation or reduction by the Board in
accordance with the guidance it has issued in relation to the impact of
COVID-19) must not exceed the Threshold plus such portion of the
Costs as falls to be reported in the relevant period (the “Threshold
Condition”). For the avoidance of doubt, the relevant period is the
financial year in question and the two preceding financial years.


So instead of this being a witch hunt against us the Premier League actually helped us out. They also allowed us to include much bigger COVID losses £170m almost double the next biggest losses which was Arsenal at £86m followed by Villa at £56m.

They also allowed us to include £30m from Usmanov for an OPTION for naming rights despite no one else being interested. The Premier League bent over backwards to help us. When we failed PSR because of the long wait for planning they let us off. When we were going to fail again they allowed us ludicrous COVID losses. When we going to fail a third time Usmano was allowed to write a £30m cheque for an OPTION.

We were given chance after chance. Instead of heeding those chances Moshiri and the board ignored the warnings and tried to claim interest for working capital loans that were not used for the Stadium. Not only that but he tried to back date them.

32. In February 2022 Everton decided to pass on the interest charges payable
under the Rights & Media Funding Ltd and Metro Bank PLC loans by levying
interest on the inter-company loan to Everton Stadium Development Ltd.
The intention was that that interest would be calculated retrospectively from
FY 2018 and all charged in the FY 2022 accounts.


He tried to roll up years of interest charges for working capital and looked to pretend they were for the Stadium. This is despite there being documents that showed that the Stadium was funded by interest-free loans from Moshiri himself. The charge documents from the loans also stated that they were not for the Stadium.

Here are the documents in question.

Use of Funds
If the facility is successfully completed, the funds will be used for working capital facility
purposes. Hence, in the same way as the Rights and Media Funding Limited facility this
additional financing support will be used for operational purposes during the 2020/21
season.
We do not intend to use any of the funds for the new stadium project or to buy players in
the transfer window. These funds will be used to continue to support the Club and all of the
activities that the Club are involved in for the term of the facility.
That representation is incorporated into the Metro Bank PLC loan agreement
dated 29 April 2021. Clause 2.3 reads –
Purpose
The Borrower shall apply all amounts borrowed by it…towards the payment of
indebtedness and its working capital requirements



So there was no moving of the goalposts and there was no new rule. If anything the Premier League has been incredibly lenient with us. Instead of looking at things rationally and coming to the obvious conclusion that the club had pushed things too far we have a PR campaign calling the Premier League corrupt because they finally had enough of our ludicrous attempts to ride a coach and horses through PSR regulations.

Remember moving goalposts and being lenient in favour of teams doesn’t really apply when it comes to Everton football club both on and off the field, favourable rule changes and the like is the type Of behavior reserved for kopites.
Special dispensation I think, I maybe wrong but in reality something was bent so you never went into administration when hicks and Gillette sold.

 

[Lloydaldo11]

The punishment I take major issue with.

Our guilt, for me, is not in question.

It’s clear in the heat of this that the message is getting lost on a lot of people.

Yes there were rules, yes we are an absolute mess of a club that is incompetent to the point of laughter however….

The argument isn’t that we are not “bang to rights”, the argument is firstly the rules that we are “bang to rights are anti-competitive, poorly designed and have been shown with great detail and evidence to have multiple failings pointed out by lawyers, media and politicians not just internet message boards and social media posts.

The other aspect to this is the application of penalties in the sense of unfairness and lack of transparency which masters did himself no favour in adding fuel to the allegations of mistrust and fixed agendas such as a two tier system favouring the sky six. The arguments about wanting to apply the penalty last year but was allegedly rejected by Everton is debatable without evidence and another in a long line of contradicting statements the PL have leaked through client journos over the last two years.

So the overarching feeling isn’t that the club have NOT done wrong or people are deluded with paranoia, the feeling of anger is at the application of the rules towards Everton which are out of kilter with other clubs (see fines or settlements with Chelsea, mancs and even Leicester and others) plus the slandering of the club by a carefully managed media machine.

That is the majority of fans issue here.

As for gwladysknight etc who seem to get off on the fact the club have been penalised and others intent on us taking our medicine, no amount of arguing point four five seven of some toilet roll worthy document from a corrupt “independent” commission is going to get you anywhere. They might be RS on the wind up but if they have time on their hands to spend hours on a rival message board when life comes at you fast, I’d rather spend my time elsewhere living life than even consider logging onto RAWK.

Whatever people’s agenda or views on the financials, that’s their prerogative but we are talking here of the existential threat to a club coming close to 150 years old with a long and illustrious heritage being destroyed by a cartel of protectionist poundshop dragons den contenders who were so bad at their job they were only fourth choice for the role. Why? Because they are there for 6 of the 20 members and until tribalism and whatabouttery subsides, the other 12 clubs will be next.