Investing.com -- Everton Football Club have received a 10-point deduction after an independent commission appointed by the Premier League found that it had broken financial rules during the 2021/22 season.
Following the harshest penalty yet doled out to a side in England's top-flight competition, Everton will be left in 19th place in the table and within relegation territory.
The Premier League dictates that clubs are only allowed to lose up to £105 million over three years, and those that breach this threshold have broken its so-called Profitability and Sustainability Rules (PSRs). In a statement, the commission said it found that Everton's "PSR Calculation for the relevant period resulted in a loss of £124.5 million."
"The Commission concluded that a sporting sanction in the form of a 10-point deduction should be imposed," it noted.
Everton, who is expected to appeal the decision, denied any wrongdoing, adding it was "both shocked and disappointed" by the ruling.
"The Club believes that the Commission has imposed a wholly disproportionate and unjust sporting sanction," it said.