Image: APA/Adrian Dennis
The English football club was deducted ten points for violating profitability and stability rules until the 2021/22 season, the Premier League announced on Friday.
It is the largest points deduction in the history of the Premier League. An independent commission imposed the immediate sanction, which saw Everton slip from 14th to second-to-last in the table.
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The Premier League said it had lodged a complaint against the Liverpool club some time ago and referred the case to the independent commission earlier this year.
Parts of the losses were concealed
During the proceedings, those responsible admitted that Everton had broken the rules. According to the league, Everton concealed parts of its loss, even though the sum was above the permitted limit of 105 million pounds (119.97 million euros) over three years.
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Everton described the sanction as “totally disproportionate and unfair” and said it would appeal the decision to the Premier League. The club said it was “shocked and disappointed”.
Leeds, Leicester and Burnley have written to Everton’s owners saying they will sue for damages if they are found guilty. All three clubs have been relegated in the last two seasons, while Everton narrowly escaped in each case.
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