Premier League club facing nine-point deduction that would ruin their season after breaching financial play rules
As a result of legal problems with their money, the Toffees have lost points this season.
They got in trouble with the Premier League for not following its Profit and Sustainability Rules, so the league punished them.
Because they lost points as a punishment, they were in a fight to stay in the league, but they are now out of it.
Even worse for Everton fans, The Sun reports that the club could lose nine points if they have to go into bankruptcy.
After 777 Partners had yet another big financial disaster, Farhad Moshiri’s Toffees talked to people who specialize in bankruptcy.
The US business group has lost money because their Australian airline Bonza has gone bankrupt.
It has put Everton’s £500 million takeover in danger, and the Premier League club now doesn’t know what will happen in the future.
Because of what happened, the US insurance company A-Cap has cut links with the Miami-based 777.
Still, Everton is 11 points above the Premier League drop zone with three games to go. They have already lost eight points this season.
Still, the team is hoping that they will avoid going bankrupt, which would mean missing nine points, because 777 gave them an extra £16 million to cover urgent costs.
The US company gave Everton £200 million to keep the club going.
But because 777 is having more and more problems, the Premier League is likely to turn down their sale offer.
Moshiri is thinking about possible buyers at the moment, while Colin Chong, who is working as CEO, looks for more money from outside sources.
Things are getting worse for Sean Dyche, the players, and the fans.
Recently, Everton has been very good on the field. They have all pulled together during this tough time to win three straight games and stay out of relegation danger.
Following these events, they are still not totally safe, and Everton fans have good reason to worry about the club’s future.
Dyche has kept them stable on the field, and there should be no doubt about how great he has been this season.
The former Burnley boss has done amazing things with little help and kept the club from losing face.
