'Financial fair play is a fraud': Crystal Palace co-owner John Textor hits out at Premier League

Premier League’s Financial Fair Play (FFP) rule has received its latest instalment of criticism after Crystal Palace co-owner John Textor termed it “fraud” for its implementation in the league. The FFP in recent times has gained more attention apart from the controversial Video Assistant Referee (VAR). The FFP and Profit and Sustainability Rules (PSR) breach in the first half of the season saw Everton being docked 10 points before it was reduced to six points.

Textor hits out at FFP, PSR

“It's clear that they're (PSR) built to make sure that clubs who do not drive significant revenues cannot catch up. Financial fair play is a fraud of a term, to say it's about sustainability,” said Textor while speaking at the Financial Times Business of Football summit.

The Palace owner also insisted that Profit and Sustainability Rules (PSR) are disadvantageous to the smaller clubs as they face more issues with non-European football. Smaller don’t compete in European competitions which limits their cash flow and matches which help in increase the profit. This means, that smaller teams have to rely only on the profit gained through Premier League.

However, in case of losses clubs have no way to hide the spending and are often imposed with hefty fines of points deduction. This season PSR has hinged the relegation battle with teams struggling to find their feet.

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Everton at the start of last week were one point outside the relegation zone with near rival Luton Town having a game in hand. However, after last week’s point deduction was reduced, the Toffees are now five points clear. This impacts teams like Luton, Burnley and Sheffield United as