Everton Football Club has said they are both ‘shocked’ and ‘disappointed’ at the Premier League’s decision to dock them 10 points.
The Blues say they ‘intend’ to appeal the decision.
The club were being investigated after a breach of the Premier League’s Profit and Sustainability Rules was found.
A club statement in response to the punishment said the sanction is ‘unjust’ and ‘wholly disproportionate’.
— Everton (@Everton) November 17, 2023
The case will be heard by an appeal board appointed pursuant to the Premier League’s rules in due course.
Everton maintain that they have been ‘open and transparent’ with the information provided and that the integrity of the process has ‘always been respected’.
They believe that ‘both the harshness and severity of the sanction imposed by the commission are neither a fair nor a reasonable reflection of the evidence submitted.’
A Premier League statement outlined the reasons behind the imposed sanction and explaining the investigation process.
“The Premier League issued a complaint against the Club and referred the case to an independent commission earlier this year.
“During the proceedings, 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 £124.5million as contended by the Premier League, which exceeded the threshold of £105milllion permitted under the PSRs.
The Commision concluded that a sporting sanction in the form of a 10-point deduction should be imposed. That sanction has immediate effect”.
Football finance expert Kieran Maguire told Sky Sports News.
“Everton feel very aggrieved.
“Everton borrowed money for the new stadium and they felt the interest on that should have been considered in terms of their PSRs. The Premier League disagreed.
“Covid has also been disregarded to a degree in terms of their inability to sell players they felt they should’ve achieved otherwise.”
Football finance expert Kieran Maguire explains the reasons for Everton's 10-point deduction ⚖️ pic.twitter.com/rfehakAwOg
— Sky Sports News (@SkySportsNews) November 17, 2023
The sanction leaves Everton second from bottom of the league on goal difference, two points off 17th placed Luton Town.
The Blues are back in action on Sunday 26 November, following the international break, as they play host to Manchester United.