The devil, as ever, was in the detail.
When Everton’s interim CEO Colin Chong delivered his response to the bombshell 10-point deduction levied on his club on Friday lunchtime, he chose his words carefully.
“Myself and everybody at the club are shocked and disappointed by the ruling of the Premier League commission,” he began, hands clasped before describing the penalty as “disproportionate” and “unjust”.
The description of the commission as a “Premier League body” was deliberate.
While it is an independent panel that has decided both Everton’s guilt and punishment in this unprecedented Financial Fair Play (FFP) case, the Toffees believe that the Premier League have effectively acted as judge, jury and executioner in their case – right down to the severity of the punishment coming their way.
And make no mistake, Everton simply can’t believe the scale of the sanction. While the club did breach the profit and sustainability rules – and admitted that before the commission began its five-day hearing last month – they point to the fact they co-operated with the league’s officials from day one. They even ran possible transfer dealings past them.
The club offered plenty of mitigation to the commission, most of which was ultimately rejected.
The club’s case includes the fact they sold Richarlison on the last day of the accounting period to comply with FFP rules – which the club point out diminished their negotiating hand.
A £60m sale, they believe, could have easily been £80m if they’d had time to negotiate but was fast-tracked in the spirit of following the rules.
At Finch Farm and Goodison Park initial shock at the verdict soon gave way to anger.
“Flabbergasted,” was the verdict of one source. There is real fury on Merseyside at the way Everton have been treated and supporters groups are already mobilising to make sure the Premier League are sent a message at their next home game against Manchester United a week on Sunday.
One insider believes the Premier League’s anthem will be drowned out by boos before the game. Banners, visible protests and chants can be expected throughout a game that will beamed around the world.
An appeal to the Premier League is definitely in the post. Chong’s video message confirmed that, and it will need to be lodged within 14 days to be heard before the end of the season – but the verdict is a hammer blow for Everton at a critical time for the club’s future.
The points deduction is surmountable given Everton’s improvement under Sean Dyche this season and insiders spoke of channeling a siege mentality to get out of the drop zone. They are good enough this year to get out of it.
The bigger worry is looming legal challenges from Leeds, Burnley and Leicester, who were relegated in the two seasons that covered the breach. A £300m lawsuit is reportedly in the works, although i understands Everton haven’t received any notification of that yet.
“Wait and see,” was the verdict of one source – and i has previously been told the “stars would have to align” for that action to succeed. But it’s nevertheless a major potential headache for a club with cash flow problems and a contentious takeover yet to be confirmed.
And what of that? The Miami-based 777 Partners were offering a flat bat to enquiries about what it all means for the buy-out on Friday afternoon, choosing not to comment as the Premier League continues running a change of control process which could yet block the takeover.
The wall of silence from 777 Partners was not necessarily by choice. i understands they had received legal advice not to offer any public comment so as not to prejudice the regulatory process, but insiders believe they remain as committed as ever to buying Everton.
777’s detailed due diligence included gauging potential Premier League sanctions, and it’s almost certain that it will impact the price they eventually pay for the club.
Football finance expert Kieran Maguire told i it was an “unprecedented ruling during an unprecedented time” for football and Everton feel they have been made an example of as the game prepares for an independent regulator to be introduced.
It was certainly telling that their statement included the fact they will “monitor with great interest the decisions made in any other cases concerning the Premier League’s profit and sustainability rules”, a reference to the ongoing Manchester City case. They have 115 charges to answer but there’s been no public update on when they will be heard.
Minds will have been sharpened by the mayhem on Merseyside.
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