Everton received a deduction of 10 points by the English Premier League for violating financial regulations, as announced by the league on Friday.
In March, Everton was referred to an independent commission over a suspected breach of the league’s Profitability and Sustainability Rules (PSRs), which permit clubs to incur a maximum loss of £105 million ($130 million) over three years before facing penalties.
This penalty, the most significant in the league’s history, places Everton in the 19th position in the table.
The Premier League said in a statement: “The club admitted it was in breach of the PSRs for the period ending season 2021/22 but the extent of the breach remained in dispute.
“Following a five-day hearing last month, the commission determined that Everton FC’s PSR calculation for the relevant period resulted in a loss of £124.5 million, as contended by the Premier League, which exceeded the threshold of £105 million permitted under the PSRs.
“The commission concluded that a sporting sanction in the form of a 10-point deduction should be imposed. That sanction has immediate effect.”
Everton released a statement expressing their surprise and disappointment regarding the decision, stating their intention to lodge an appeal.
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