Everton ‘senior management’ have made another shocking mistake – Kieran Maguire
Everton have missed an opportunity to exclude stadium costs from their accounts and could now face a third points deduction.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that the board at Goodison Park are to blame for “shabby” decision-making.
As revealed by Football Insider, there is still an ongoing dispute between the Premier League and Everton over £24million worth of stadium interest fees.
A hearing with an independent commission is expected this summer and could result in a further points deduction for the 2024-25 season.
In contrast, Tottenham were allowed to exclude the interest fees from their £1billion stadium construction in their PSR calculations.
Everton chiefs at fault for new £24m hearing
Maguire explained that senior figures at Goodison Park are to blame as their £24million interest fees “could have been avoided”.
“Under the accounting rules, once you are committed to the construction, you capitalise all interest,” Maguire told Football Insider’s Sean Fisher.
“I don’t think it reflects very well on senior management at Everton as they appeared to borrow money from sources who specifically said this money for working capital.
“It could have been avoided.
“So yes, it is harsh on Everton, but again it reflects the shabby decision-making at the top of the club.
“Fans will be bewildered why Spurs have managed this but their club can’t – and it’s not a difficult thing to do.“
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