Everton withdraw appeal against second points deduction

Don't poke the bear!

I'm glad, it doesn't serve us to keep going and have the panel turn it down ala Forest anyway.

Smart move.

The clue is in the appeal is withdrawn - got it!

We had appealed but the hearing has not taken place.

Now, it won't take place, saving time, money, effort and sweat on all sides.

Still leaves a certain matter pending that has not been mentioned further — the thorny issue of loan interest and stadium construction, which seems to have been kicked down the road…

It's actually a shame we can't organise an advance on points deductions for 2024-25 because, next season, I have a hunch the promoted clubs won't be quite so useless as this season's batch.

Forest had a pointless appeal and it didn't cost them any more points. So there's no real downside.

There are points available to us on appeal and it could be worth a place (and therefore money) if we drop behind Brentford.

I don't think you take that off the table unless you're trading it for something.

Back onside with the powers that be whilst subtly telling them to shove the points deduction up their arses.

Here is a brief summary of exactly what the 115 charges refer to:

54 charges relate to failing to provide accurate financial information between 2009-10 and 2017-18

14 charges relate to failing to provide accurate information on player and manager payments between 2009-10 and 2017-18

Five charges relate to failing to comply with Uefa's rules including FFP between 2013-14 and 2017-18

Seven charges relate to breaching the Premier League's Profit and Sustainability Rules (PSR) between 2015-16 and 2017-18

35 charges relate to failing to comply with the Premier League's investigations between December 2018 and February 2023

Some of these charges are self-explanatory. In essence it is alleged that Man City were driving money into the club through fictitious sponsorship packages, paying then-manager Roberto Mancini to act as a consultant to a club in Abu Dhabi, and giving players more money than was going through the accounts. These allegations have all been denied robustly by the club.

When you think what we have been through so far for two charges, how long is all this litigation likely to take before it is all concluded! What are the chances of it being settled in some sort of confidential deal? Only time will tell!

If some sort of " behind the scenes" agreement has been struck to our advantage... then so be it. If the Club just couldn't be arsed, then so be it.

However, I would have preferred them to continue and to test the nonsense and inconsistencies that they have faced and to challenge the Premier League publicly for the good of all teams and supporters. The outcome remains more than just academic.

We now have fractionally more certainty as to what's coming down the pike.

Anew season beckons and that always brings renewed hope. Remember, if it hadn't been for the deductions, we could now be in the Top 10. So let's hope that improvement is built on next season.

Could we be thinking of looking at how things stand in the league after Saturday and, pending results, an announcement being made that we are going into administration and taking the additional automatic 9 points… and still staying up?

That would just be a massive up yours to Masters and the Premier League.

It would be farcical to automatically receive a 9-point deduction, which could see us relegated, having voluntarily withdrawn the appeal.

We need to concentrate on getting a stadium naming rights sponsor to cough up before 30 June and/or look at player sales.

A little bit of creative accounting wouldn't go amiss too.

Now, what’s the value of all those lawnmowers Bill bought for Finch Farm???

In hindsight, we should have acted exactly like Man City in my opinion.

Stifling any attempts of competition and ambition isn't really sport.

I understand the rules are in place to protect clubs from going into administration but they also prevent competition and protect the established wealthy teams.

Switch the tables around: If Man City had acted like Everton, they wouldn't have won the trophies or broken through the glass ceiling at the top table. They probably would have faced fines and points deductions for trying to compete. Whilst watching on as Man Utd and Chelsea spend billions.

Newcastle will be next to test the rules. The wealthiest club on the planet are having to sell their top players to comply with P&S rules which are not for for purpose.

Withdrawing our appeal should also have been weighted with some sort of statement about our future position. There is already talk about another points deduction next season for us, Leicester, Villa, and Forest whilst the City elephant in the room isn't being dealt with.

The best league in the world, my arse.

As going into administration after the season ends on 19 May means the 9-point deduction starts next season, surely a no brainer seeing its going to happen sooner or later.

Glad it’s not my money.

Administration and liquidation of the Rangers Football Club plc

And see how Rangers struggled.

Administration for us is the last place we and I assume Moshiri wants us to be.

Apparently. Then, there's no one in charge who gives a toss about the Club.

Everton Football Club’s suitor 777 Partners has called in turnaround and crisis management experts, as the investment firm wrestles with accusations of fraud and the unravelling of the reinsurance financing that underpinned many of its acquisitions.

The Miami-based group has appointed a team from B Riley Advisory Services to assist with “various operational challenges”, according to a 777 memo reviewed by the Financial Times.

“We have retained a team of professionals from B Riley Advisory Services (a division of B Riley Financial) to assist with managing through various operational challenges,” the memo said. It added that 777 is working to “rationalise” the business and “select the most profitable path forward for our investments”.

The advisory services company, which is part of Los Angeles-based B Riley Financial, does restructuring and turnaround work, forensic accounting and litigation support, and valuations.

The appointment comes after London asset manager Leadenhall Capital filed a lawsuit which alleged that 777 co-founders Josh Wander and Steven Pasko were “operating a giant shell game at best, and an outright Ponzi scheme at worst”.

According to the Leadenhall lawsuit, filed in a federal court in New York last week, Wander pledged more than $350mn in assets that “either did not exist, were not actually owned by Wander’s entities, or had already been pledged to another lender”.

777 has said it “vehemently refutes” the claims in the Leadenhall court filing.
777’s challenges have plunged Everton into uncertainty. British-Iranian owner Farhad Moshiri has been re-evaluating the sale of the Premier League side following the Leadenhall lawsuit, according to two people with knowledge of his thinking. 777 had hoped to complete the acquisition by the end of last year but the Premier League has not approved the deal.
Clubs in which 777 already has stakes have also been affected. This week, Belgian club Standard Liège said it had been hit with a transfer ban by football authorities “for failure to be able to provide all the requested proof of payment within the deadline”.

777 has also come under pressure because US regulators have pushed insurance group A-Cap to cut exposure to the group. A-Cap has set out a plan to take back control of assets ceded to 777 Re, the Bermudian reinsurer that funded the Miami group’s football deals.

Separately, 777-backed budget airline Bonza entered voluntary administration in Australia last month and cancelled its flights, forcing passengers to seek alternative travel arrangements.

Mark Shapiro, senior managing director at B Riley Advisory, is serving as interim chief operating officer at 777, according to the memo, which noted his “considerable experience as a financial restructuring adviser and CFO”.
B Riley Advisory co-chief executive Ian Ratner and senior managing director Ronald Glass are taking on “governance roles” at 777.

Ratner, who was the expert witness on behalf of the US Department of Justice in the BP Deepwater Horizon oil spill litigation, has experience in public and forensic accounting, business valuations, due diligence, corporate finance and bankruptcy consulting.

Glass is described as a “nationally recognised crisis manager, fiduciary, Chapter 11 trustee, chief restructuring officer and bankruptcy adviser” on B Riley’s website.

777 declined to comment on the appointment of B Riley. B Riley did not immediately respond to requests for comment.

I was surprised when we lodged the appeal in the first place. I saw little or no chance that - what? - one point would be given back. I'm surprised that Forest got away without an additional points cut after an appeal that in the wording of the panel was frivolous.

This might also earn us a few brownie points with the North Wharf Road crew Not a bad move with word of a third case not far over the horizon.

I've said over and over again that I'm more worried about next season than this one and this is largely with our most critical summer ahead of us. I'm dreading the day after the Arsenal game.

Less so now, however, as a bit of common sense is finally rearing its head and, if there is any substance to yesterday's potentially welcome ownership whispers, then some sunshine has broken through the clouds.

COYB!

I am currently channeling my inner Laurel and Hardy…

Especially due to the Forrest fisaco over penalties etc and EFC having already received two sactions.

The Premier League will not want to be seen as overly penalising EFC, also, EFC being currently 11 points above the 3rd place from bottom.

Everyone's a winner except, of course, Forest and Luton.

We will hopefully end the playing side of it respectably, but I'd love to see the side totally full of the most junior players against Arsenal, especially if that hands them the title over Man City.

The Chelsea situation will be really interesting, especially if they are allowed to get away with selling hotels to themselves!

Good riddance to a wretched season.

Fuck being the nice club, it doesn't work in the cut throat world of the Premier League.

After Leeds went into administration and Ken Bates then placed them into administration with relegation already confirmed, the FA changed the rules. If administration occurs after the fourth Thursday of March then the points deduction goes against the next season.

I'm assuming the EPL follow this although knowing Masters and Co, it's probably not written down.

The Man City charge list is interesting.

I can understand that charges relating to fraud committed by City Owners will take time to prepare the case – highly volatile and sensitive. Most however relate to not submitting financial Information and supporting information, going back to 2009.

Either you have or have not submitted required information simple as. City claim innocence – have they got lost in the post or has the dog eaten them?

These more routine charges should have been dealt with and the club sanctioned, well before now.

The Premier League should answer why the latter did not happen.

Hopefully save us some £ on legal fees.

I believe the cutoff is 19 May and if you believe half of what we hear about 777, then I think Moshiri is just buying time.

Let’s hope we can replicate this season without points deductions, and remain in the league next season.

We can walk out on to the pitch at Bradley Moore to ‘stayin alive’.

If all 14 non-top 6 teams took a stand, we could get somewhere, and as the January transfer window showed, everyone is bottling these rules.

Well done, Masters – and how did the 5th Champions League place for your darlings work out?

I'm disappointed that Everton did not stick with the appeal, but hey, "Please, Sir, can I have some more"?

I'll still be there next season, even when we get rinsed again with our reduced-level sales.

Simple as that.

So, if we would have earned another £19.3 million if City are found guilty of being cheats, then maybe we wouldn't have breached the PSR and we can sue the Premier League for the loss of prize money for this season?

But then again, our board would probably just have wasted it.