Leeds United have dropped their claim against Everton because it’s simply not worth their time or money anymore.
That’s the view of finance guru Kieran Maguire, speaking exclusively to Football Insider on the case against the Toffees on the basis of financial fair play.
Everton have recorded combined losses of almost £372m over the past few years, well above the Premier League’s current FFP limit of £105m.
The Toffees, however, insist the Covid additions see them falling into elite profit and sustainability parameters.
Leeds and Burnley, Everton’s 2021-22 relegation rivals, dispute that claim and wrote to the Premier League in May demanding action.
Maguire explained that they were only likely to earn a further £2m if the deal went through and that the Merseysiders had in any case been ‘adamant’ in denial.
“I think I was always almost certain that Leeds would use every method possible to not go any further,” he said Football Insiders Adam Williams.
“The potential gain for them is perhaps a position in the Premier League, which is worth £2m. It would cost you that in legal fees.
“From Leeds’ perspective, all that mattered was that they stayed up, and they did.
“As far as Everton are concerned, they have always insisted that they work with the Premier League to identify ways to reduce the cost base.
“Although they did not receive a transfer embargo last summer, the nature of their signings was a sign that they had overspent in the past and were taking definitive action to address it. “
In other news, Millwall agree to sign Leeds United star Jamie Shackleton.