After losing four points, Forest fell into the drop zone.
After losing four points, Forest fell into the drop zone.
FILE PHOTO: August 28, 2022, Nottingham Forest vs. Tottenham Hotspur, Premier League soccer match at The City Ground in Nottingham, Britain An overview of a corner flag being gathered following the game Reuters/Carl Recine/File Photo: Action Photos
LONDON: Nottingham Forest's four-point deduction for financial rule violations from the previous season sent them into the Premier League relegation zone on Monday.
Following the league's announcement of the deduction, Forest's position in the rankings was altered to 18th with 21 points, one point behind Luton Town and four ahead of Burnley in 19th.
Following a two-day hearing, the Premier League stated an independent commission has applied the instant deduction "for a breach of the Premier League's Profitability and Sustainability Rules (PSRs) for the period ending Season 2022/23."
According to the statement, Forest acknowledged that he had gone above the barrier by 34.5 million pounds, or 61 million pounds ($77.6 million).
Following the league's announcement of the deduction, Forest's position in the rankings was altered to 18th with 21 points, one point behind Luton Town and four ahead of Burnley in 19th.
Following a two-day hearing, the Premier League stated an independent commission has applied the instant deduction "for a breach of the Premier League's Profitability and Sustainability Rules (PSRs) for the period ending Season 2022/23."
According to the statement, Forest acknowledged that he had gone above the barrier by 34.5 million pounds, or 61 million pounds ($77.6 million).
Premier League teams are permitted to lose 105 million pounds over the course of three seasons; however, because Forest played in the Championship for two of those years, their maximum loss was limited to 61 million pounds.
The club was charged in January of last year and promoted in May 2022. The Premier League claimed the club had shown 'excellent cooperation' in their interactions with the Premier League throughout the process.
Forest is the second Premier League team this year to lose points due to financial irregularities; Everton lost 10 points in November until their punishment was lowered to six this month after an appeal.
Everton is now awaiting word on a possible second penalty pertaining to 2022–2023.
$1 equals 0.7859 pounds.
The club was charged in January of last year and promoted in May 2022. The Premier League claimed the club had shown 'excellent cooperation' in their interactions with the Premier League throughout the process.
Forest is the second Premier League team this year to lose points due to financial irregularities; Everton lost 10 points in November until their punishment was lowered to six this month after an appeal.
Everton is now awaiting word on a possible second penalty pertaining to 2022–2023.
$1 equals 0.7859 pounds.
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