Sport nationEverton blocked from using Chelsea points deduction loophole – Wyness
Everton blocked from using Chelsea points deduction loophole – Wyness
Former Everton chief Keith Wyness insists the Merseyside club will have considered using a PSR loophole similar to Chelsea but were blocked because of borrowed cash for their stadium.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – explained that Everton could not sell stadium assets to themselves to loophole PSR because they have borrowed money for it.
Chelsea have appeared to loophole Profit and Sustainability Rules by selling two hotels to a sister company for £76.5million to balance their books.
The sale was revealed in the club’s 2022-23 accounts published to Companies House last Friday (12 April).
As revealed by Football Insider, the hotel sale is still under investigation by the Premier League as to whether it is “fair market value”.
Everton could not copy £77m loophole to avoid points deduction
Wyness explained that Everton were “aware” of loopholes but were blocked from using them because they have borrowed cash for their stadium construction.
“I think certainly from Everton’s point of view, from what I’m told by sources, I think they were aware that they could have done something similar to this,” he told the Inside Track podcast.
“They could have sold the stadium site back to another company owned by Moshiri for example.
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“However, they couldn’t because they had already borrowed against it so it stopped Everton doing it.
“As for Forest, I think they will look into this and try to work out if this is under the rules and if it has been done correctly.
In other news, Everton third points deduction: Wyness can’t believe ‘truly surprising’ new details
Amina Umar
Sport nation
