Source: Everton chiefs now in ‘panic’ as news emerges involving Usmanov; transfer ban possible

The board at Everton are now getting worried over the possible punishments they could face at the hands of the Premier League due to their devastating financial losses.

Toffees owner Farhad Moshiri bought the Merseyside club in 2016 for a stunning £200 million.

Ever since, Everton have posted losses in all but one of the years with the Iranian businessman in charge. In the last three financial years, the Toffees have posted a combined loss of £265 million.

The £140 million loss in 2018/19 and the £112 million in 2019/20 both rank in the seven largest losses recorded by an English club.

Whilst the Merseyside club have told the media that they will be able to demonstrate to the Premier League that they have worked within the profit and sustainability limits, fresh news has emerged, throwing this confidence in the air.

Football Insider has reported that the Everton board are now “frightened to death” of being “severely” punished by the Premier League, as a result of their huge financial losses.

An Everton source informed FI that there is a “big panic” amongst senior officials at the club, as they are worried the league could make an example of them by imposing strong sanctions, including the likes of transfer bans.

This would derive as a result of a combination of their losses and their involvement with Russian oligarch Alisher Usmanov, who is a close ally of Moshiri’s.

Usmanov was sanctioned by the UK government a fortnight ago.

A number of football finance experts have claimed that the Toffees are very close to breaching the Premier League’s profit and sustainability rules.

The club have placed the blame on large Covid-related losses and the fact that they are currently building their new stadium Bramley-Moore Dock, which