Everton have been deducted 10 points by the Premier League for a breach of profit and sustainability rules.
However, Everton say they are “stunned and disappointed” by the decision and have promised to appeal.
“Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted,” said the club.
The deduction, which was meted out by an Independent Commission and will be imposed with immediate effect, is the largest in the history of the Premier League and plunges Sean Dyche’s team into the relegation zone.
As per 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 barely keeping away from relegation to the Title last season, Everton were, before their points loss, fourteenth on the league table, eight points over the last three.
Only two clubs have previously been docked points in Premier League history – Middlesbrough, who were deducted three for failing to fulfill a fixture against Blackburn in 1996/97 and Portsmouth, who were stripped of nine after entering administration in March 2010.
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