Everton have been docked 10 points for breaching Premier League profit and sustainability rules, causing the Toffees to drop to 19th in the table.
The decision comes after the league referred Everton in March to an independent commission after reviewing the financial records of all top-flight clubs for the 2021-22 season.
Everton reported losses of £124.5million over a three-year period. The rules allow clubs to lose a maximum of £105million over that period of time, or potentially face sanctions.
The 10-point deduction incurred by the Toffees is the biggest sporting sanction ever handed out by the Premier League.
Everton intend to appeal, saying they are ‘both shocked and disappointed’ by the finding.
This appeal will be heard by another independent panel, not the same people who brought forward Friday’s verdict.
“Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted,” Everton said about the decision.
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Gary Lineker shared his reaction to the news earlier on Friday, saying it will be “very interesting to see” whether other clubs alleged to have breached these rules will end up being punished.
As per Lineker’s comments, the decision to punish the Toffees has certainly put into focus other Premier League investigations and how those clubs will be dealt if also found guilty.
For instance, Manchester City have been charged with 115 alleged breaches of the rules by the Premier League.
They are yet to have a verdict amid legal wrangling on both sides and City have denied wrongdoing.
Meanwhile, Chelsea are under investigation for alleged breaches relating to the era of Roman Abramovich’s ownership.