Everton handed heaviest points punishment in Premier League history; club shocked and disappointed by ruling and will appeal; Everton plunged into relegation zone; Sky Sports News understands the charge related to interest payments on the cost of building the clubs new stadium
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The commission determined that "Everton's PSR calculation for the relevant period resulted in a loss of £124.5m, as contended by the Premier League, which exceeded the threshold of £105m permitted under the PSRs."
Sky Sports News understands Everton feel their overspend was brought about by unforeseen and unprecedented circumstances and they have justifiable mitigation. The war in Ukraine led Everton to severing financial ties with Alisher Usmanov's holding company USM.
On top of the 15 commercial deals they had with USM, they lost a naming rights deal for the new stadium at Bramley Moore dock worth £200m.
