Everton: Premier League double standards clear with Tottenham treatment – Finance Expert
Football finance expert Kieran Maguire claims that the Premier League have treated Everton and Tottenham differently.
Spurs had all the interest on the stadium building costs capitalised but the same was not done for the Toffees and the club are adamant that the £6.5million interest payments on the loan must not be counted as a loss.
That led to the Toffees being docked eight points in total from the Premier League this season
Via Twitter, Maguire responded to the questions over double standards, saying: “Spurs have had all the interest on the stadium construction capitalised. Everton are under a potential future commission in relation to their interest charges during construction, although this is partly due to poor senior management decision making.”
Everton being unfairly treated by the Premier League
The Premier League’s handling of interest costs and new stadium construction between Tottenham and the Toffees showcases a clear double standard that reflects poorly on the league’s management.
While Spurs’ interest on their stadium construction has been capitalised, meaning it’s added to the cost of the project and not considered an annual expense, Everton are facing potential future penalties for their interest charges during construction.
This discrepancy is particularly problematic because it seems to punish the Merseyside outfit for making business decisions to allocate funds to their new stadium, even if those decisions were a result of losing significant sponsorship money.
The Premier League is essentially penalising them for pivoting financially in response to a major loss of sponsorship, which is a common and necessary business strategy.
Moreover, the fact that the loan in question for the club was originally intended for something other than the stadium but was ultimately used to fund the construction should not be a reason for additional penalties.
The Premier League’s focus on the intended use of the loan rather than its actual use seems arbitrary and unfair.
In other Everton news, a senior player may never start for the club again after the Chelsea loss and is now very likely to leave in June.
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