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Everton: David Ornstein moots liquidation ahead of possible Leeds United and Leicester City legal action
David Ornstein accepts many will struggle to comprehend just why Everton are on the “precipice of potential oblivion” as rival clubs prepare to take legal action.
The Toffees were last week docked 10 Premier League points and are now bracing themselves for the likes of Burnley, Leeds United and Leicester City to sue them over financial losses.
Should that happen, Everton may well enter administration and face an even more uncertain future than the one they currently face.
Speaking on The Athletic Football Podcast [21 November, 13m 47s], Ornstein said: “When you read through the commission report, there’s a huge amount said about commission payments on the stadium build. It has essentially come down to that.
“Now, don’t get me wrong – the reason Everton are in this position is because they spent too much on players, they gambled.
“Some of the players on the pitch against Bournemouth on the final day of last season were influential [in keeping them up].
“Players like Abdoulaye Doucoure, the winning goalscorer on the day Everton survived, were there as a result of spending that, whichever way you cut the numbers, has by the letter of the rules been illegal.”
Ornstein added: “Many will struggle to correlate how they get thrown to this precipice of potential oblivion if you think of what might follow in terms of legal action, a stadium on the way, this could look like administration and liquidation, all because of the debate around an interest payment.”
Worrying times
Ornstein did state that he feels Everton are basically being made an example of as the Premier League looks to stamp its authority and deter others from breaching its rules.
If the punishment stops at a 10-point deduction, as annoying as that is to fathom, it is something the Toffees can recover from between now and the end of the season.
Being sued up to £300m by rival clubs who feel hard done by, however, would surely be too much to recover from. Administration, liquidation and, in the worse-case scenario, “potential oblivion” may well follow.
That is the most extreme end of the spectrum, of course, and the hope is that it will not come to anything remotely like that.
But right now, with a new stadium three-quarters constructed and a takeover only half complete, Everton supporters find themselves in complete limbo.
Having a Premier League team to support come the end of the season would be nice, but simply having a club of any sort to support may well be the wish further down the line.
In other Everton news, 777 Partners has reportedly been advised by its lawyers following the emergence of “surprise” headlines.