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Shocking news: Everton set to pay Premier League milions as official…

Published by Gabriel Shiel on July 30th, 2024.

Everton are set to pay the Premier League a seven-figure sum as a result of a new rule change.

Everton and the Premier League have endured a turbulent relationship in recent years, with the Toffees becoming the first team to be sanctioned for Profit and Sustainability breaches.

That saga was taking place against a backdrop of takeover uncertainty at Goodison Park, which has now rumbled on for approaching 18 months.
British-Iranian billionaire Farhad Moshiriappears unable to fund the club after years of abysmal cost control, with Everton having one of the worst recruitment record and wages-to-turnover ration in the Premier League.

Peter Kenyon and the Miami-based investment firm 777 Partners have both failed to get a takeover over the line after a period of exclusive talks.

Now, AS Roma owner Dan Friedkin has also pulled out of negotiations after signing heads of terms with Moshiri, citing “unresolvable issues” believed to relate to the club’s £200m debt with 777.

In the latest development, Everton face forking out millions when the takeover situation is eventually resolved.

Everton set to pay Premier League legal costs

The legal teams of the Premier League are almost certainly sick of the sight of each other.

But in what Everton fans will hope will be the last time they have to engage with the league on an official basis for some time, the club will have to get ratification for the takeover – when it happens.

The new owner will need to pass the Owners and Directors’ test and prove to the Premier League that they have the capital to fund the club’s day-to-day operations and service its debt.

As relayed by finance expert and former Man City adviser Stefan Borson via X, the Premier League released its official handbook last week.