The recent ten-point deduction imposed on Everton for breaching Financial Fair Play rules has sent shockwaves through the Premier League, raising concerns among the leadership of Chelsea and Manchester City, who are also under investigation for similar offenses.
Sean Dyche's Everton side was plunged into the relegation zone as a result of the points deduction, highlighting the severity of the potential consequences for non-compliance with financial regulations. However, the allegations against Chelsea and Manchester City dwarf those leveled at Everton.
Under the ownership of American businessman Todd Boehly, Chelsea has embarked on an unprecedented spending spree, investing over £1 billion in transfers alone within the past 18 months. The club's new owners have also reported alleged illegal payments made during the Roman Abramovich era, placing Chelsea under scrutiny by the Premier League.
However, Chelsea's current management vehemently denies any wrongdoing, stating that they "have no points of contact with the current owners of the club."
Manchester City have allegedly breached financial fair play a whopping 115 times
Across Manchester, reigning champions Manchester City face accusations of violating financial fair play regulations on a staggering 115 occasions.
The club is under investigation for allegedly incurring losses that exceed the permitted £250 million limit. It was precisely this offense that led to Everton's punishment, with the Toffees accumulating a three-year loss of nearly £372 million during the 2021-22 season.
The complexity and magnitude of City's case suggest that a resolution may take several years to materialize. Former Manchester City financial advisor Stefan Borson has warned that relegation from the Premier League is not an improbable outcome for City and Chelsea if their financial transgressions are proven.
"Without delving into the specifics of Everton's sanction, deducting ten points for breaching financial fair play is not a proportionate measure. If City and Chelsea are found guilty of similar offenses, relegation from the league could be a very real possibility," Borson stated.
Echoing Borson's sentiments, the esteemed London newspaper "The Times" has also raised the specter of a 30-point deduction for both Manchester City and Chelsea should the allegations against them be substantiated. "Such a scenario appears highly plausible for both City and Chelsea if the charges against them are upheld by an independent regulatory body," the publication asserted.
The Premier League has never witnessed a situation of this magnitude in its over three-decade history. Punishing clubs of the stature of Chelsea and Manchester City would unquestionably send shockwaves through the world's most prestigious soccer league.