217.
We have taken into account the fact that, under rule E.35, a PL club suffers a nine point deduction on an “Event of Insolvency”. Mr Rabinowitz submitted, with some force, that an Event of Insolvency is an inevitably more serious matter for the relevant club in respect of its sustainability, and so for the integrity of the PL as a competition; which is indicative that a nine or more point penalty for the Club in respect of its breach of the PSR would be too high. The two penalties are not, in our view, directly comparable because, as Mr Lewis pointed out, the nine point penalty under rule E.35 is automatic and may be accompanied by other disciplinary sanctions for breaches of other rules which an Event of Insolvency (or the underlying circumstances) may trigger. Nevertheless, we found this submission by Mr Rabinowitz to have some force. It suggests that the ten point penalty here was internally inconsistent within the framework of the PL Rules.