BBC Sport journalist Giulia Bould has revealed that the Premier League do not consider Tottenham’s spending on their new stadium in their PSR calculations despite asking for Everton to have theirs considered as losses.
The Toffees were handed a new two-point deduction on Monday (8 April) to take their total deductions to eight this season following a second PSR charge.
The notes from the independent committee claim that there will be another hearing in the future as a disagreement about the loans for the new stadium being considered as losses or not continues, which could see another deduction next season.
Everton are adamant the £6.5m shouldn’t be counted as a loss, while the Premier League are arguing that it should. And journalist Bould has revealed why that is the Premier League’s stance, despite them not counting it for Tottenham.
“The figure is £6.5m for stadium interest repayments,” she wrote. “This hearing will not happen this season so anything from this will be in the 2024/25 season.
“Just for interest, Tottenham’s loan payments for capital projects such as their new stadium are not factored in the Premier League’s PSR.”
A fan then asked what the reason for this was, and Bould explained in another tweet.
“Very good question and one that’s a bit complex,” she said.
“Very basically (I’m sure someone will complain) but loans were moved to stadium costs when the naming rights deal was suspended.
“So the build didn’t stop; the money was moved, but originally, that wasn’t what the loan was for, and that’s why.”
The Premier League are out to get Everton:
The financial situation at Everton is a mess and has been a mess for a long time, but the club have admitted to a breach of the financial rules.
However, the Premier League seems to be trying to make things even worse for the club because they are counting the intended use of the loans, rather than what the loans were actually used for.
The fact the money was spent on the new stadium should mean it isn’t included in any PSR calculations, and the fact the loan in question wasn’t intended for that shouldn’t matter.
The club was forced to pivot financially after losing a huge chunk of their sponsorship money in that period and ultimately made a business decision to allocate funds elsewhere.
They shouldn’t be punished extra because of that, and the fact the league wants to punish them for that is just ridiculous, and proves they just want to make an example of the club.