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☆ Everton deducted two points for second breach of financial rules, league says
▼ + stars: | 2024-04-08 | by ( ) www.cnbc.com time to read: 1 min

Seamus Coleman of Everton gives the team instructions during the Premier League match between Everton FC and Burnley FC at Goodison Park on April 06, 2024 in Liverpool, England. Everton have received a two-point deduction, their second points cut this season, after the club's appeal against a Premier League charge for a breach of Profitability and Sustainability Rules (PSR) was unsuccessful, the league said on Monday. The independent commission heard evidence and arguments from the club on a range of potential mitigating factors for its admitted breach of 16.6 million pounds ($21 million), including the impact of its two successive PSR charges, the league said. "The commission determined the appropriate sanction to be a two-point deduction, taking effect immediately," it said in a statement.

Persons: Seamus Coleman Organizations: Everton, Premier League, Everton FC, Burnley FC, Goodison Park Locations: Liverpool, England

☆ Everton has 10-point Premier League deduction reduced following appeal
▼ + stars: | 2024-02-26 | by ( Sammy Mncwabe | ) edition.cnn.com time to read: +2 min

CNN —An independent Appeal Board has reduced Everton FC’s sanction for breaching the Premier League’s Profitability and Sustainability Rules (PSRs) from 10 points to six. It comes after the Merseyside club successfully appealed a November decision by an independent commission to deduct points for breaching financial rules. The successful appeal moved Everton, which has failed to register a win in their last five matches, up to 15th in the Premier League table. That was a reference to the Premier League charging Everton with a second PSR breach along with Nottingham Forest in January. In response to the latest charge, the Liverpool-based club criticised “a clear deficiency in the Premier League’s rules.”

Persons: Everton FC’s, ”, ” Everton, “ Organizations: CNN, Everton, Premier League, “ Everton FC, Appeal, Club, Nottingham Forest Locations: Merseyside, “, Liverpool

☆ Soccer-Everton, Forest charged for breaching Premier League profitability and sustainability rules
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: +1 min

NOTTINGHAM, ENGLAND - DECEMBER 02: Jarrad Branthwaite of Everton wins a header during the Premier League match between Nottingham Forest and Everton FC at City Ground on December 02, 2023 in Nottingham, England. (Photo by Tony McArdle/Everton FC via Getty Images)Nottingham Forest and Everton have been charged by the Premier League for a breach of the Premier League's profitability and sustainability rules (PSR), British media said on Monday. "The club intends to continue to cooperate fully with the Premier League on this matter and are confident of a speedy and fair resolution," Nottingham said in a statement quoted by British media. "Everton can assure its fans that it will continue to defend its position during the ongoing appeal and, should it be required to do so, at any future commission – and that the impact on supporters will be reflected as part of that process," Everton said.

Persons: Tony McArdle, Nottingham, Everton Organizations: Everton, Premier League, Nottingham Forest, Everton FC, City, Getty Images Locations: NOTTINGHAM, ENGLAND, Nottingham, England

☆ Private-asset binge exposes insurance to new risks
▼ + stars: | 2023-11-30 | by ( John Foley | ) www.reuters.com time to read: +7 min

The concept is not new: Warren Buffett’s Berkshire Hathaway (BRKa.N) has used its insurance premiums to help fund everything from railways to cowboy-boot makers. The prospect of insurance companies buying risky loans or private equity investments has raised eyebrows. Many private credit assets, for example, rely on so-called private letter ratings based on confidential data. Given the private nature of private credit, it’s hard to see from the outside how big these risks are, or where they lurk. Besides, even if the share of life insurance assets that are mis-rated or undercapitalized is tiny, smaller insurers could carry more concentrated risk.

Persons: Blackstone, Warren Buffett’s Berkshire Hathaway, Fitch, Kroll, Egan, Jones, DBRS Morningstar, Banks, SVB, Jonathan Guilford, Neil Unmack, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, Apollo Global Management, KKR, Global Atlantic, Investments, National Association of Insurance, England’s Everton FC, Rivals, Reuters Graphics Reuters, Federal Reserve, Federal Deposit Insurance Corp, Athene, P Global, Insurance, SVB, Thomson Locations: Global, Delaware , New York, Iowa, New York, London

☆ Everton deducted 10 points for breaching English Premier League rules
▼ + stars: | 2023-11-17 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +3 min

CNN —Everton FC has been handed an immediate 10-point deduction by an independent commission for breaching the Premier League’s Profitability and Sustainability Rules (PSRs), the English Premier League announced on Friday. The deduction means that Everton drops to 19th in the league table, level on points with last-placed Burnley. “The Premier League issued a complaint against the Club and referred the case to an independent Commission earlier this year. Everton’s next Premier League match is at home to Manchester United on November 26 following the conclusion of the men’s international break. The Merseyside club narrowly avoided relegation from the Premier League last season after finishing 17th, two points above the relegation zone.

Persons: ”, ” Everton, “, Everton’s, Caroline Dinenage Organizations: CNN — Everton FC, English Premier League, Everton, Burnley, Premier League, Club, Commission, “ Everton, Manchester United Locations: Merseyside, England

☆ Everton: Premier League deducts club 10 points for profit and sustainability rule breach
▼ + stars: | 2023-11-17 | by ( ) www.cnbc.com time to read: 1 min

The Everton badge with flags before the Premier League match between Everton FC and AFC Bournemouth at Goodison Park on May 28, 2023 in Liverpool, England. Everton have been deducted 10 points by the Premier League for a breach of profit and sustainability rules. Everton say they are "shocked and disappointed" by the ruling and have vowed to appeal. "Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted," said the club. The deduction, which was meted out by an Independent Commission and will be imposed with immediate effect, is the largest in the history of the Premier League and plunges Sean Dyche's team into the relegation zone.

Persons: Sean Dyche's Organizations: Everton, Premier League, Everton FC, AFC Bournemouth, Goodison Park, Independent Commission Locations: Liverpool, England

☆ EPL soccer club Everton acquired by U.S. private equity firm 777 Partners
▼ + stars: | 2023-09-15 | by ( ) www.cnbc.com time to read: +1 min

The Everton badge with flags before the Premier League match between Everton FC and AFC Bournemouth at Goodison Park on May 28, 2023 in Liverpool, England. Everton have been sold to 777 Partners, the struggling Premier League club said on Friday, with the U.S. private equity firm taking over from Farhad Moshiri in a deal reportedly worth more than 550 million pounds ($685 million). The Miami-based investment fund said it had signed an agreement with British-Iranian billionaire Moshiri to acquire his 94.1% stake in the club. The firm 777 Partners has a number of clubs in its portfolio, including Italian side Genoa and Belgian team Standard Liege, while they also have stakes in LaLiga club Sevilla and Australian A-League side Melbourne Victory. By January 2022, he had increased his stake to 94.1% with a 100 million pounds capital injection.

Persons: Farhad Moshiri, Moshiri, Josh Wander Organizations: Everton, Premier League, Everton FC, AFC Bournemouth, Goodison Park, Partners, U.S, Genoa, Belgian, Standard Liege, Sevilla, League, Melbourne, Arsenal Locations: Liverpool, England, Miami, British, Italian, Australian

☆ England's top soccer clubs agree to ban gambling sponsors on front of matchday shirts
▼ + stars: | 2023-04-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Dwight McNeil (L) and Demarai Gray of Everton during the Premier League match between Manchester United and Everton FC at Old Trafford on April 08, 2023 in Manchester, England. The club's shirts are sponsored by online casino Stake.com. Soccer clubs in England's top-flight Premier League on Thursday agreed not to allow gambling firms to advertise on the front of matchday shirts from the end of the 2025/2026 season. The move comes amid widespread concern and ongoing campaigns to reduce or ban gambling advertising. The Premier League did not immediately respond to a request for comment.

☆ Ronaldo charged with improper conduct after smashing fan's phone
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Ronaldo, 37, apologised to the 14-year-old fan via social media after the incident, which took place after United's 1-0 defeat at Goodison Park in April. Register now for FREE unlimited access to Reuters.com Registerloading"It is alleged that the forward's conduct after the final whistle was improper and/or violent." Video footage appeared to show Ronaldo angrily slapping the phone out of the boy's hand as he walked down the tunnel. The boy's mother said he had been left with a bruised hand and that his phone screen had been smashed. Register now for FREE unlimited access to Reuters.com RegisterReporting by Hritika Sharma in Bengaluru, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

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