Everton's deal with Alisher Usmanov could be looked into by Premier League
Thursday 16 January 2020 19:07, UK
The Premier League could look into Everton's accounts after it announced a company part-owned by Alisher Usmanov paid £30m to secure an option on the naming rights of their new stadium, Sky Sports News can confirm.
The Daily Mail reports the league will look into the unprecedented deal as part of its review into all clubs' financial reports in the spring.
Premier League rule E.54 states: "The board shall determine whether consideration included in the club's earnings before tax arising from a related party transaction is recorded in the club's annual accounts at a fair market value.
"If it is not, the board shall restate it to fair market value."
Everton are understood to be comfortable with the deal and have made the Premier League fully aware of the details.
Usmanov, who owned a 30-per-cent stake in Arsenal until 2018, is a friend and business partner of Everton's majority shareholder Farhad Moshiri.
His company, USM, have sponsored Everton's Finch Farm training ground since 2017 and he told the Financial Times earlier this month he was considering extending the deal to include the new stadium.
"It's not obligatory for me to participate myself. I could sponsor them. I could be a shareholder. They're going to build a new stadium. Why not the USM Arena?" asked Usmanov.
Everton are planning to build a new 52,000-seat ground at Bramley-Moore Dock.
Usmanov's naming-rights deal was revealed when the Toffees announced post-record losses of £111.9m earlier this week.
As per Premier League rule E.1 clubs must file accounts to the Premier League for the financial year each March, and Everton's 2020 submission is likely to be scrutinised regarding the Usmanov deal.
