Fresh concerns surrounding Burnley’s parent company have brought Everton’s £35m compensation case back under scrutiny as the club waits for its appeal to be heard. Velocity Capital (UK) Holdings Ltd has received a compulsory strike-off notice over overdue accounts, although…
Everton's £35m compensation case with Burnley has come under fresh scrutiny after Burnley's parent company, Velocity Capital (UK) Holdings Ltd, received a compulsory strike-off notice over overdue accounts. Everton had previously paid £26m in damages and roughly £9m in interest relating to their 2021/22 PSR breach, with the club currently waiting for their appeal to be heard.
Prior to paying, Everton warned of a potential risk in recovering the funds if the decision was overturned, though requests for an escrow or bank guarantee were rejected. Velocity's strike-off notice does not mean Burnley are insolvent, and ALK Capital stated it is working to resolve the overdue filings.
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