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Premier League rules on profitability and sustainability were violated by Everton and Nottingham Forest

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Premier League rules on profitability and sustainability were violated by Everton and Nottingham Forest

(VORNews) –  Everton and Nottingham Forest have violated Premier League rules regarding profitability and sustainability. Everton and Nottingham Forest could face penalties or point deductions if the breaches are proven.

The total allowable loss for Premier League teams over three years is £105 million, or £35 million per season. Forest was granted a maximum loss of £61 million since they spent two seasons in the Championship during the most recent assessment period.

The Premier League fined two teams for “sustaining losses above the permitted thresholds for the assessment period ending season 2022/23,” the league announced on Monday. Separate panels will review both cases before deciding on the best course of action.

Both Everton and Nottingham Forest have been given 14 days to formally respond to the accusations. There is a possibility of penalties or point deductions for the teams if new violations are established.

In November, Everton docked 10 points—the largest sanction in the history of the league—which the Toffees called “wholly disproportionate and unfair.”. For their overspending in the three years up to the end of the 2021–22 season, the club has already appealed against the severity of that punishment.

Regarding the most recent accusation, Everton stated that the violation pertains to a time frame that encompasses the 2019–20, 2020–21, 2021/22, and 2022–23 seasons.

The club stated that it encompasses the 2019–20, 2020–21, and 2021/22 fiscal years, for which Everton has already been penalized with a 10-point deduction.

Premier League rules on profitability and sustainability were violated by Everton and Nottingham Forest

‘Clear deficiency in Premier League’s rules’

In contrast to other regulatory organizations, such as the English Football League (EFL), the Premier League does not have regulations that prohibit a club from being punished for suspected violations in financial periods that have already been punished, according to the statement released by the Toffees.

“As a result, and because of the Premier League’s new commitment to deal with such matters ‘in-season’, the club is in a position where it has had no option but to submit a PSR [profit and sustainability rules] calculation that remains subject to change, pending the outcome of the appeal.”

According to them, “The club must now defend another Premier League complaint, that includes the very same financial periods for which it has already been sanctioned before that appeal has even been heard.” According to Everton, “This results from a clear deficiency in the Premier League’s rules.”.

“Everton can assure its fans that it will continue to defend its position during the ongoing appeal and, should it be required to do so, at any future commission, and that the impact on supporters will be reflected as part of that process.” A statement from Nottingham Forest said they would “continue to cooperate fully with the Premier League in this matter and are confident of a speedy and fair resolution.”.

East Midlands were in the Championship until 2022 when clubs are permitted to lose a maximum of £39 million over three seasons, or £13 million per season, so their permissible losses over the past three campaigns would add up to £61 million. A place above the relegation zone, Forest are 15th in the Premier League, while Everton are 17th.

Manchester City was also submitted to an independent commission in February for more than 100 alleged financial rule violations since the club’s acquisition by the Abu Dhabi-based City Football Group in 2008. There has been no verdict in that case. The city has fiercely refuted the claims.

Premier League rules on profitability and sustainability were violated by Everton and Nottingham Forest

What did the Premier League rules say?

The Premier League announced today in a statement: “Everton FC and Nottingham Forest FC have both confirmed to the Premier League that they violate the league’s profitability and sustainability rules.” This is a consequence of losses exceeding the authorized criteria for the evaluation period ending in 2022/23.

“In line with Premier League rules, both instances have now been sent to the head of the judicial panel, who will convene separate commissions to assess the appropriate penalty. “Commissions operate independently of the Premier League and its member teams. The hearings are held in secret, and the commission’s final findings are made public on the Premier League’s website.”

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Salman Ahmad is a seasoned freelance writer who contributes insightful articles to VORNews. With years of experience in journalism, he possesses a knack for crafting compelling narratives that resonate with readers. Salman's writing style strikes a balance between depth and accessibility, allowing him to tackle complex topics while maintaining clarity. His commitment to thorough research ensures his pieces are well-informed and thought-provoking. Salman's contributions enrich VORNews' content, offering readers a fresh perspective on current events and pressing issues.

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Paris 2024 Olympics: Opening Ceremony, Schedule, and Start Time Today

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Paris 2024 Olympics Opening Ceremony, Schedule, and Start Time Today

The opening ceremony of the Paris Olympics promises to be unlike any other.

In a novelty for the Games, the show will be held on Paris’ famed River Seine rather than in a stadium.

Here is everything you need know about the ceremony…

What to expect from the spectacular opening ceremony.

The eye-catching celebration will take place over a 6km stretch of the Seine. It will start at Austerlitz Bridge and culminate among the gardens, fountains, and palaces in the shadow of the Eiffel Tower at Trocadero.

Almost 100 boats will carry over 10,000 athletes and dignitaries as they cruise past Paris’ prominent monuments such as Notre Dame Cathedral and Pont Neuf.

The boats will transport the parade’s participants as well as the artistic portion of the celebration, which will highlight Paris and France’s history and culture.

The performers’ identities, however, have been kept a mystery.

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Thousands of people are still expected to line the river and streets, with millions more watching on television all over the world.

“I’d like to show France in all its diversity,” said Thomas Jolly, the French actor and theatre director appointed as the ceremony’s creative director, a post previously played by Danny Boyle in London 2012.

“Illustrate the richness and plurality shaped by its history, which has been influenced and inspired by the diverse cultures that have passed through it, while itself serving as a source of inspiration.”

The ceremony will also involve the ceremonial opening of the Games, led by French President Emmanuel Macron, as well as the lighting of the Olympic cauldron.

Many of the finer elements have been maintained as a surprise.

What is the date and time of the opening ceremony?

The ceremony will commence at 19:30 local time (18:30 BST) on Friday, July 26.

It is scheduled to take little under four hours, with the last parts taking place as the sun sets over the French city.

Fortunately, the Paris weather forecast for Friday evening is positive.

In what sequence will the nations be introduced?

In accordance with tradition, Greece will be the first nation introduced during the ceremony.

Giannis Antetokounmpo, an NBA star, is one of their flagbearers for the games.

Greece will be followed by the Refugee Olympic Team, with hosts France being the last to be unveiled.

Because of their countries’ involvement in the Ukrainian conflict, Russian and Belarussian athletes participating as individuals will not participate.

How to follow the opening ceremony on BBC.

The opening ceremony will begin live at 17:45 BST on BBC One, BBC iPlayer, and the BBC Sport website and app.

BBC Radio 5 Live and BBC Sounds will provide radio coverage beginning at 19:00 BST.

There will also be live text coverage on the BBC Sport website and app, bringing you all the action from Paris.

Source: BBC

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Coco Gauff To Be Female Flag Bearer For US Team At Olympic Opening Ceremony, Joining LeBron James

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PARIS — Coco Gauff, a tennis player, will join LeBron James as a flag bearer for the United States Olympic team at Friday’s opening ceremony.

Coco, the reigning US Open winner, is ready to make her Olympic debut at the Paris Games, becoming the first tennis player to carry the American flag. Team USA athletes selected her and James.

“I believe the Olympics are the priority. It’s equal to the Grand Slams. I wouldn’t put it above or below because I’d never played before. “This is my first time,” Gauff explained earlier this year. “I always want to do well and get a medal.”

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Coco Gauff | AP News Image

Coco Gauff To Be Female Flag Bearer For US Team At Olympic Opening Ceremony, Joining LeBron James

Coco and James, the 39-year-old NBA’s all-time top scorer, engage in sports outside the traditional Olympic realm and receive media attention year-round rather than every four years.

Coco, 20, joined the American team for the Tokyo Olympics as a youngster three years ago but had to withdraw because she tested positive for COVID-19 just before flying to Japan.

Coco, who now lives in Florida, has won Grand Slam titles in both singles and doubles. She earned her first major triumph in New York in September, defeating Aryna Sabalenka in the singles final of the U.S. Open, and then won her first Grand Slam doubles title at the French Open in June with Czech Republic’s Katerina Siniakova.

The Paris Olympics will be played on the same clay courts at Roland Garros used for the French Open. The bracket draw will take place on Thursday, and play will begin on Saturday.

Coco is seeded second in singles, matching her current WTA ranking behind Poland’s No. 1 Iga Swiatek, and will be one of the medal favorites.

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Coco Gauff | AP news Image

Coco Gauff To Be Female Flag Bearer For US Team At Olympic Opening Ceremony, Joining LeBron James

She and her normal doubles partner, Jessica Pegula, are seeded first in the women’s doubles. Gauff may also compete in mixed doubles; however, those pairs have yet to be determined.

“I’m not putting too much pressure on it, because I want to fully enjoy the experience,” Gauff said of her Olympic debut. “Hopefully I can have the experience multiple times in my lifetime, (but) I’ll treat it as a once-in-a-lifetime experience.”

SOURCE | AP

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LeBron James Selected As Team USA Male Flagbearer For Paris Olympics Opening Ceremony

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Lebron | AP News Image

When LeBron James was chosen for his first Olympics in 2004, he was unsure what the opening ceremony entailed.

This time, he’ll be a star of the show.

His fellow American Olympians chose James to be the male flagbearer for the United States at the opening ceremony of the Paris Games on Friday night. He is the third basketball player — and the first men’s player — to carry the United States flag at the start of an Olympics, following Dawn Staley in 2004 and Sue Bird in 2021.

“It’s an incredible honor to represent the United States on this global stage, especially in a moment that can bring the whole world together,” James told reporters. “As a kid from Akron, this responsibility means everything to not only me, but to my family, all the kids in my community, my teammates, other Olympians, and so many more people throughout the country with huge dreams. Sports have the capacity to unite us all, and I’m honored to be a part of this historic occasion.”

The 39-year-old James learned of the distinction Monday in London, just hours before the United States men’s team was supposed to play its final pre-Olympics exhibition game against World Cup champion Germany.

“We understand how much of an honor it is to be in that position and I think Bron’s entire career, on and off the court, speaks for itself as him being worthy of that honor,” Curry said on the video announcing his nomination.

“He has represented what it means to be excellent both on and off the court in his commitment to service and to uplifting the community in all ways that he knows how has been a lifelong passion,” Curry pointed out. “And the work speaks for itself.”

LeBron James Selected As Team USA Male Flagbearer For Paris Olympics Opening Ceremony

The female U.S. flagbearer is anticipated to be revealed on Tuesday. In 2020, the International Olympic Committee announced that country delegations would have two flagbearers at the Olympics’ opening ceremony, one male and one female, to encourage gender equality. The United States is set to send around 600 competitors to the Paris Games, with approximately 53% women.

“Being chosen by your teammates to carry the flag is a tremendous honor—and a testament to LeBron’s passion for Team USA and dedication to his sport,” U.S. Olympic and Paralympic Committee CEO Sarah Hirshland said.

James, a global icon, four-time NBA champion, and the league’s all-time leading scorer about to begin his record-tying 22nd NBA season, is set to compete in the Olympics for the fourth time, having previously won bronze in 2004, gold in Beijing in 2008, and gold again in London in 2012. He participated in the opening ceremony at his previous three Olympics.

This time, he will float.

This will be an unprecedented Olympic opening ceremony, with thousands of participants sailing along the River Seine at nightfall toward the Eiffel Tower. According to Olympic officials, the route is a 6-kilometer (3.7-mile) one, with some 320,000 spectators expected to watch from the river bank and an estimated 1 billion more watching on televisions around the world.

LeBron James Selected As Team USA Male Flagbearer For Paris Olympics Opening Ceremony

Not all Olympic athletes attend the opening ceremony; many miss it for logistical reasons, such as having to compete the next day. James and the four-time defending gold champion U.S. men shall begin Olympic competition on Sunday, when they face Serbia in Lille, France.

James and the American Olympians will have to wait longer than virtually any other nation for their voyage on the Seine. According to IOC protocol, Greece will lead the march, with NBA star Giannis Antetokounmpo serving as one of its two flagbearers. The Refugee Olympic Team and over 200 more national delegations will follow. The United States is slated to be next-to-last in the procession because Los Angeles will host the next Summer Olympics in 2028.

As the host, France will be the last nation to participate in the opening ceremony procession. Its men’s basketball team, which includes reigning NBA rookie of the year Victor Wembanyama, begins Olympic competition on Saturday and is not scheduled to attend the opening ceremony.

SOURCE | AP

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