Everton CEO Update

It has been a long three weeks since our last Premier League outing.

But it is very much back with a bang this weekend, as our trip to Bournemouth tomorrow kicks off a run of three games in a week.

Since our last game, the complexion of the league table has changed, with Nottingham Forest deducted four points by a Premier League commission for a breach of profit and sustainability rules (PSR) - a deduction they have subsequently chosen to appeal.

It means we go into the Bournemouth game four points above the relegation zone, but with the outcome of Forest’s appeal still to come - as well as the conclusion to the commission process for our PSR charge for the accounting period ending in June 2023. Our report and accounts for that financial year will be online by March 31, in line with Premier League guidelines.

Our hearing has taken place, and the timeline introduced by an amendment to the Premier League rules last summer ensures a ruling from the commission board should be received in the early weeks of April.

As I know you will appreciate and understand, I am not able to share specific details relating to the charge we face, or the commission process. But what I can share with you is my understanding of the uncertainty it has created for every Evertonian. This has been a season unlike any other the Club has ever experienced - and when I talk about the Club, naturally, I talk about not only the players and staff, but every fan.

I know I speak for every one of my colleagues when I express my sincere thanks to you for the ongoing passionate support of the team. It has been a testing period, but never once has the support waned. The banners for Sean and the team, the incredible numbers in which fans continue to travel the length and breadth of the country to support our teams and the levels of engagement we experience with fans every day across all levels of the Club are testament to that.

Colin Chong
I know I speak for every one of my colleagues when I express my sincere thanks to you for the ongoing passionate support of the team. It has been a testing period, but never once has the support waned.

From the record-breaking speed at which fans are renewing their Season Tickets for our final campaign at Goodison, to the scrutiny and vigour of the independent Fan Advisory Board in, quite rightly, challenging and engaging with myself and the senior leaders at the Club, there is clear evidence of the true meaning of support.

And as we seek to secure the points we need to climb up the Premier League table, whilst navigating the PSR commission process and maintaining one of the biggest single building projects taking place in the country right now, I can assure you that support is valued.

I’m confident that in the coming weeks, we will have greater clarity in terms of what is needed on and off the field as we drive this club forward.

To that end, we are approaching the final stages of what has been a comprehensive, but long, regulatory process to progress the takeover agreed between our majority shareholder, Farhad Moshiri, and 777 Partners in the autumn of last year.

This transaction requires approval from the Premier League, the Football Association, and the Financial Conduct Authority in order to proceed.

It is a process that has taken longer than any of us anticipated, although certainty over timescales was always a challenge, given this is the first such full takeover of a Premier League club since amendments were made to the regulatory approval process in March 2023.

Out of respect for that process and aside from affirmations of a collective commitment to complete the transaction, Mr Moshiri and 777 Partners have deliberately not provided detailed running commentary during the regulatory review period. And that must remain the case until the process has concluded.

But we want to provide an assurance to every Evertonian that communication regarding plans for the future will be shared at the earliest opportunity following the conclusion to that process.

Your support as we navigate the challenges facing us in the coming weeks, on and off the field, is something for which we are always grateful.