Premier League has slapped Everton with 10 points deduction, following an investigation into a breach of profit and sustainability rules.
The Goodison Park club insist they are “shocked and disappointed” by the punishment and will appeal.
An official club statement read: “Both the harshness and severity of the sanction imposed by the Commission are neither a fair nor a reasonable reflection of the evidence submitted”.
“Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted,” said the club.
According to the Premier League, Everton admitted during a five-day hearing it was in breach of the league’s Profitability and Sustainability Rules with the Commission “determining Everton FC’s PSR Calculation for the relevant period resulted in a loss of £124.5m, as contended by the Premier League, which exceeded the threshold of £105m permitted under the PSRs.”
After narrowly avoiding relegation to the Championship last season, Everton were, prior to their points loss, 14th in the league table, eight points above the bottom three.
The deduction is the largest in the history of the Premier League.
It takes immediate effect, plunging Sean Dyche’s team into the relegation zone.