Fulham make drastic move to avoid points deduction – Keith Wyness
Everton’s former chief Keith Wyness has claimed Fulham owner Shahid Khan has moved to avoid a breach of Profit and Sustainability Rules (PSR) by converting loans into shares.
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 – insisted the Pakistani billionaire has been an “excellent owner and investor” at Craven Cottage.
Football Insider revealed on 31 October that Fulham’s owner has written off more than £75million worth of loans by converting them into shares.
The majority of the Cottagers’ debt is likely to have come from the redevelopment of the Riverside Stand, which has been ongoing since 2019.
An independent commission has recently ruled that shareholder loans shouldn’t be excluded from the Premier League’s financial rules – which could have opened Fulham up to a charge and potential points deduction.
The London club lost £26million in the 2022-23 campaign with top-flight clubs only permitted to lose £105million over three years.
Khan protects Fulham against PSR breach, says Wyness
Wyness told Football Insider‘s Insider Track podcast: “He’ll have done this to get the debt down because interest will now count towards PSR.
“Shahid Khan has now put over £500million into Fulham over the last eight years, three of which have been in the Premier League.
“He’s had mixed fortunes. It’s one of those clubs that have been a yo-yo club.
“Khan has been an excellent owner and investor.
“This move is about keeping the debt under control for PSR reasons. It’s not a big story.”
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