I’ve read a bunch in this sub about how they weren’t supposed to write off losses like they did and that they kept doing it in spite of being warned several times and it. But what did they spend on? And what advantage did they get, considering that they barely stayed up the last two seasons?
They are building a stadium to replace the 150 year old Goodison Park. Despite what somepeople say it was not tranfer spending. Ultimately it was an accounting decision not to allow Everton to deduct interest on stadium loan payment. Everton are appealing because stadium spending is an allowed deductible. Its a bit of a complicated accounting thing because if they got the loan from an bank it would be deemed deductible.
I might be way off but from what I understand:
Everton lost the most ammount of money out of any Club during these 3 years. The FA allows only a certain ammount of debt before they start giving punishments. Everton has signed players while having constant debt and has racked up about about 19.5m more worth of debt than the FA allows and have been charged with a FFP breach. Because of the breach, they we’re deducted 10 points.
The money was most likely spent on players and salaries which they could not actually prove they had the funds to pay. The advantage is that if the point deduction happened last season or the one before, they would have been relegated and another club would have survived (Burnley in 21/22 and Leicester in 22/23).