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Premier League introduces new accounting rules following Everton’s FFP charges

The Premier League has implemented a rule amendment following last season’s financial issue involving Everton

This change mandates clubs with a history of lavish spending to expedite the submission of their financial reports, according to an exclusive report by the Daily Mail.

Rule E.48, the newest addition to the Premier League’s regulations, orders clubs with financial losses to present their audited accounts by December 31.

This new rule is a significant departure from the established deadline of March 31. 

The objective is to facilitate the swift resolution of potential breaches of Financial Fair Play (FFP) rules, ensuring that disciplinary proceedings are concluded within the same season they arise.

Amid the backdrop of Everton’s contentious FFP allegations that spilt over into the close of the previous campaign, the Premier League has acted to avoid repeating such a situation. 

Various clubs criticised the apparent delay in adjudicating Everton’s charges, which allowed them to dodge potential points deductions and relegation.

While Everton have maintained their innocence, several Premier League clubs doubt the veracity of their claims. 

Southampton, Leicester City, Leeds United, Nottingham Forest and Burnley petitioned for potential compensation if Everton are found guilty.

They claim they are entitled to £300 million and have cautioned the Premier League about becoming embroiled in the conflict.

The Premier League has now altered its rules to expedite case resolution, aiming to alleviate lingering tensions and disputes that have marred the Everton saga. 

Everton evaded FFP penalties in the 2021/22 season despite staggering losses exceeding the league limit, only to face charges for subsequent years.

However, the case is far from over. The upcoming disciplinary hearing set for October means that any point deductions linked to a guilty verdict would apply to the current season – a scenario that many clubs find untenable.

The new financial reporting rule applies exclusively to clubs with aggregated losses over the preceding two years and could impact Everton, Chelsea, Wolverhampton Wanderers and others.

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