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Monday, November 18, 2024

League Sanctions Infuriate Everton Fans—and Complicate a $685M Sale

  • Fans protest unprecedented penalty from the Premier League.
  • Proposed sale to 777 Partners remains on tenuous ground.
Everton
Everton FC

First came Everton’s unprecedented 10-point Premier League standings penalty for violating profitability and sustainability rules. 

Now comes the fallout.

Everton fans made their frustration known on Sunday, with thousands holding up pink signs bearing the Premier League logo and the word “corrupt” during the club’s match against Manchester United.

Everton’s 3-0 loss, meanwhile, slid the team to 19th place in the Premier League standings—staring down relegation—with six months remaining in the season.

A new ally, however, has arrived. Greater Manchester mayor Andy Burnham has lodged a formal complaint with the Premier League and called for the penalty to be rendered “null and void,” arguing that a new sanctions policy was introduced in the midst of Everton’s case.  

“I have concluded that there has not been a fair process,” wrote Burnham, an Everton fan. “There has been a highly flawed process, and I would go as far to say there has been an abuse of process.”

Sale Questions

Amid the increasing turmoil, Everton’s proposed sale to U.S.-based 777 Partners remains tenuous. 

After initially agreeing to a deal of about $685 million, 777 Partners’ final sale price could be slashed as multiple reports pointed to a series of clauses in the deal calling for a lower price if the club is relegated or an appeal of the Premier League’s penalty is denied.

But even with the increasing likelihood of a lowered sale price, 777 Partners is reportedly “still trying to raise the money to close the deal,” according to a new report in Forbes.

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