Times article, Burnley/Leeds threaten to sue Everton

[matty1878]

Je suis @matty1878

 

[lancs blue]

I heard leeds are complaining as they had to take a right jesse as manager and couldn't steal a march on the rest of the teams. Blah.....

 

[Bebeto]

So they wait till we're safe then all of a sudden want a points deduction for Finchial reasons.

League is over Sunday worst case scenario can only be points deduction at the start of next season surely?

They will not be no point deductions...mentioned many times before that we are in the clear in relation to ffp...we play by the rules...surely we are not in a great shape financially but things will improve

 

[Noisy noise annoys]

I’d log into the relegation thread and find myself laughing at some of the furore going on. Then I’d get in bed at night and my brain would go:

“Ey... you awake? We’re fked you know! Just thought I’d let you know…. goodnight.”

Yep, every night i'd roll over and smack my lips, just drifting off and RELEGATION would announce itself and id be awake for yonks.

Not no more it aint!

 

[UltraVires]

Relegate them both for being massive cry arse frauds

 

[andy4efc]

Yep, no chance.

Both have American owners and investors, culturally there if you sneeze funny you get sued. Both have had investments in them, one or the other is looseing a lot of money.

Burnley particularly could be in big trouble, they have 150 mill loan falling due shortly that financed their leveraged buy out - it’s why they blinked on Dyche.

Bet they are both bricking it.

Burnley fan in work has ties to the club. If they go down they have £65m to pay and quick. Parachute covers 30m of that. Player sales the rest it seems.

They'll be fine, becuase they aren't giving pensioners 300k a week, but even so. Daunting.

 

[BirkenheadBlue]

Can’t believe people are being so dismissive of this. Can only assume they’re new to supporting Everton.

 

[Connor]

 

[BrendanGOT]

You only have to go through the authors twitter time line to guess where his allegiances lie most likely

 

[Toffeepot]

Thought all that was squared away with the Premier League that’s why we could only spend £1.5 million or whatever?

yea, thought so too, and they are part of the Premier league so if they ok'd our spending they don't stand a chance now that one of them are going down

 

[davmaher]

This is the original Times article that broke the story earlier today:

Leeds and Burnley threaten legal action over Everton finances​

exclusive

updated
Martyn Ziegler
, Chief Sports Reporter
Friday May 20 2022, 5.00pm, The Times
Premier League
Football

Luke Ayling and Anthony Gordon battle for the ball during Everton’s 3-0 win in February
GETTY IMAGES

Leeds United and Burnley have threatened to bring a claim for substantial damages against the Premier League and Everton believing the Merseyside club have seriously breached financial rules.

The two clubs sent a letter last week warning they reserve the right to take legal action against the Premier League and Everton, and demanding details of what — if any — action or investigation the league has started after Everton recorded losses totalling £371.8 million over the last three years.

The Premier League’s profit and financial sustainability rules allow clubs to lose a maximum £105 million over a three-year period or face sanctions which include points deductions for serious breaches. Leeds and Burnley want an independent commission to decide if Everton should face such sanctions.

Losses caused by the Covid pandemic can be written off but Leeds and Burnley have raised concerns that media reports and Companies House filings show Everton’s Covid-related losses are more than three times that of clubs of a similar size.


The Premier League declined to comment. An Everton spokesman told The Times: “We have worked so closely with the Premier League to make sure we are compliant, we are comfortable we have complied with the rules.

ADVERTISEMENT​

“External auditors have told us what we can and cannot claim against the pandemic.
“If they want to take legal action then they can do so by all means.”
Leeds and Burnley have been in a relegation fight with Everton, who secured their Premier League survival on Thursday night. The letter was sent before last weekend’s round of matches however and the two clubs believe the majority of other teams in the top flight are sympathetic.
The pair are understood to have written they are concerned that while Everton may have been in serious breach of the financial rules they have continued to have a substantial advantage over other clubs in the Premier League who have been compliant. They are also understood to have written expressing concerns that the league has not acted appropriately or quick enough.

SPONSORED​

Their action is potentially the most serious legal challenge to the Premier League and a member club since West Ham United paid Sheffield United £20 million compensation after being fined — rather than having a point deduction — in 2007 for breaching third-party rules in signing Carlos Tevez.

Tevez scored on the final day in 2007 to keep West Ham in the Premier League
GETTY IMAGES
Leeds and Burnley have engaged the services of a heavyweight law firm and a QC with specialist experience in sport. They believe this will be an important test case for the Premier League and want an independent commission to be set up within six weeks to deliver a judgment well before the start of next season, believing all the necessary information will be immediately available.
They have also asked to know if the Premier League will make the investigation public, and believe there is a feeling more widely among clubs that Everton’s long-established position in the league has meant they are getting an easier ride than other clubs might have had.
When announcing their annual results in March, Everton said £170 million of the losses were related to the “dramatic and ongoing financial impact” of the Covid pandemic. That was far more than other clubs in the Premier League with Aston Villa stating that £56 million was lost due to Covid and Newcastle United putting the figure at £40 million.

ADVERTISEMENT​

Everton have also continued to spend on transfers this season and in the January window brought in defender Vitaly Mykolenko for £17 million, Nathan Patterson for £12 million, and deals for Dele Alli and Donny van de Beek.
Everton only generated £14 million a season from matchday income pre-pandemic, and in March said the impact of Covid on the transfer market had also contributed to their losses.
The club said in a statement in March: “Losses of at least £170 million are attributed to the impact on the club of the Covid-19 pandemic, with £103 million of that figure coming in the 2020-21 financial year. Continued investment in the playing squad, coupled with the impact of the pandemic, has resulted in the club posting a loss of £120.9 million for the year ending June 30, 2021.
“The wide-ranging impact of Covid-19 on Everton — which further market analysis has indicated could include an additional £50 million — covers lost revenues, additional costs due to strict Covid-19 playing protocols and a significant contraction in the transfer market which resulted in the inability to generate the level of transfer fees which could reasonably have been expected pre-pandemic.”
The statement said the club had also been “working formally with the Premier League regarding its ongoing compliance with Profitability & Sustainability regulations” and had committed “significant amounts to a complex new stadium project” — sums which can also be written off against the £105 million permitted losses.
Kieran Maguire, a football finance author, told The Times that it would be “a steep adjustment” for Everton’s £371.8 million losses to comply with the £105 million ceiling.
“They are blaming some of it on the pandemic and they have done some stuff on the stadium but it is a steep adjustment to get down to £105 million. They have put their Covid losses as significantly higher than other clubs who have stated theirs publicly such as Aston Villa and Newcastle.”



Premier League
Football

 

[trueblue84]

I guess Burnley are worried about repaying that loan they have. If they go bust, their fans will have to find something else to do like go back to working in the mills or fingering their sister.

 

[Toffeepot]

You only have to go through the authors twitter time line to guess where his allegiances lie most likely

Trying so hard to burst our bubble because they hate us being happy in any way...they've revealed their weakness...grin at every red and they'll have a meltdown!

 

[Goat]

This is the original Times article that broke the story earlier today:

Leeds and Burnley threaten legal action over Everton finances​

exclusive

updated
Martyn Ziegler
, Chief Sports Reporter
Friday May 20 2022, 5.00pm, The Times
Premier League
Football

Luke Ayling and Anthony Gordon battle for the ball during Everton’s 3-0 win in February
GETTY IMAGES

Leeds United and Burnley have threatened to bring a claim for substantial damages against the Premier League and Everton believing the Merseyside club have seriously breached financial rules.

The two clubs sent a letter last week warning they reserve the right to take legal action against the Premier League and Everton, and demanding details of what — if any — action or investigation the league has started after Everton recorded losses totalling £371.8 million over the last three years.

The Premier League’s profit and financial sustainability rules allow clubs to lose a maximum £105 million over a three-year period or face sanctions which include points deductions for serious breaches. Leeds and Burnley want an independent commission to decide if Everton should face such sanctions.

Losses caused by the Covid pandemic can be written off but Leeds and Burnley have raised concerns that media reports and Companies House filings show Everton’s Covid-related losses are more than three times that of clubs of a similar size.


The Premier League declined to comment. An Everton spokesman told The Times: “We have worked so closely with the Premier League to make sure we are compliant, we are comfortable we have complied with the rules.

ADVERTISEMENT​

“External auditors have told us what we can and cannot claim against the pandemic.
“If they want to take legal action then they can do so by all means.”
Leeds and Burnley have been in a relegation fight with Everton, who secured their Premier League survival on Thursday night. The letter was sent before last weekend’s round of matches however and the two clubs believe the majority of other teams in the top flight are sympathetic.
The pair are understood to have written they are concerned that while Everton may have been in serious breach of the financial rules they have continued to have a substantial advantage over other clubs in the Premier League who have been compliant. They are also understood to have written expressing concerns that the league has not acted appropriately or quick enough.

SPONSORED​

Their action is potentially the most serious legal challenge to the Premier League and a member club since West Ham United paid Sheffield United £20 million compensation after being fined — rather than having a point deduction — in 2007 for breaching third-party rules in signing Carlos Tevez.

Tevez scored on the final day in 2007 to keep West Ham in the Premier League
GETTY IMAGES
Leeds and Burnley have engaged the services of a heavyweight law firm and a QC with specialist experience in sport. They believe this will be an important test case for the Premier League and want an independent commission to be set up within six weeks to deliver a judgment well before the start of next season, believing all the necessary information will be immediately available.
They have also asked to know if the Premier League will make the investigation public, and believe there is a feeling more widely among clubs that Everton’s long-established position in the league has meant they are getting an easier ride than other clubs might have had.
When announcing their annual results in March, Everton said £170 million of the losses were related to the “dramatic and ongoing financial impact” of the Covid pandemic. That was far more than other clubs in the Premier League with Aston Villa stating that £56 million was lost due to Covid and Newcastle United putting the figure at £40 million.

ADVERTISEMENT​

Everton have also continued to spend on transfers this season and in the January window brought in defender Vitaly Mykolenko for £17 million, Nathan Patterson for £12 million, and deals for Dele Alli and Donny van de Beek.
Everton only generated £14 million a season from matchday income pre-pandemic, and in March said the impact of Covid on the transfer market had also contributed to their losses.
The club said in a statement in March: “Losses of at least £170 million are attributed to the impact on the club of the Covid-19 pandemic, with £103 million of that figure coming in the 2020-21 financial year. Continued investment in the playing squad, coupled with the impact of the pandemic, has resulted in the club posting a loss of £120.9 million for the year ending June 30, 2021.
“The wide-ranging impact of Covid-19 on Everton — which further market analysis has indicated could include an additional £50 million — covers lost revenues, additional costs due to strict Covid-19 playing protocols and a significant contraction in the transfer market which resulted in the inability to generate the level of transfer fees which could reasonably have been expected pre-pandemic.”
The statement said the club had also been “working formally with the Premier League regarding its ongoing compliance with Profitability & Sustainability regulations” and had committed “significant amounts to a complex new stadium project” — sums which can also be written off against the £105 million permitted losses.
Kieran Maguire, a football finance author, told The Times that it would be “a steep adjustment” for Everton’s £371.8 million losses to comply with the £105 million ceiling.
“They are blaming some of it on the pandemic and they have done some stuff on the stadium but it is a steep adjustment to get down to £105 million. They have put their Covid losses as significantly higher than other clubs who have stated theirs publicly such as Aston Villa and Newcastle.”



Premier League
Football

Ive found the external auditor we used.

 

[JLW]

I guess Burnley are worried about repaying that loan they have. If they go bust, their fans will have to find something else to do like go back to working in the mills or fingering their sister.

A six finger fisting more like.

Tramps