Everton have received a 10-point deduction, which will be applied immediately, after being found to have breached the Premier League’s profit and sustainability rules.
The punishment is the biggest sporting sanction in the competition’s history and leaves Everton 19th in the table.
Everton have said they intend to appeal against the decision and received a statement on the matter on Friday afternoon:
“Everton Football Club is both shocked and disappointed by the ruling of the Premier League’s Commission.
“The Club believes that the Commission has imposed a wholly disproportionate and unjust sporting sanction. The Club has already communicated its intention to appeal the decision to the Premier League. The appeal process will now commence and the Club’s case will be heard by an Appeal Board appointed pursuant to the Premier League’s rules in due course.
“Everton maintains that it has been open and transparent in the information it has provided to the Premier League and that it has always respected the integrity of the process. The Club does not recognise the finding that it failed to act with the utmost good faith and it does not understand this to have been an allegation made by the Premier League during the course of proceedings. Both the harshness and severity of the sanction imposed by the Commission are neither a fair nor a reasonable reflection of the evidence submitted.
“The Club will also monitor with great interest the decisions made in any other cases concerning the Premier League’s Profit and Sustainability Rules. Everton cannot comment on this matter any further until the appeal process has concluded.”
The Toffees were 14th in the Premier League and looked likely to avoid the drop this term but they are now level on points with 20th-place Sheffield United and five points behind 17th-place Bournemouth after 12 games.
Everton return to action on Sunday, November 26, vs Manchester United. Sean Dyche’s side have caused United problems in recent meetings and can be backed at 7/4 with bet365 to pick up the win next weekend.