As I’ve said in another post, this is a nonsensical explanation.
This would be the fastest way for the Premier League to prove that they aren’t capable of good governance. Governance isn’t about clobbering people, it’s about rational, fair and reasonable administration. This isn’t that.
The government, particularly in an election year, wouldn’t be impressed if the Premier League literally bullied one of the countries most famous and established sporting institutions in to administration, particularly with the knock-on effect Everton’s demise would have on connected businesses.