Everton have been handed an immediate 10-point deduction for breaching Premier League financial fair play (FFP) rules - becoming the first top-flight club to receive such a punishment for falling foul of FFP guidelines.
The Merseyside club will drop from 14th to 19th place in the Premier League table, with a new total of four points, following the announcement on Friday 17 November.
Premier League teams are permitted to lose £105m over a three-year period and Everton admitted to being in breach of the league’s profit and sustainability rules, after being referred to an independent commission by the Premier League.
Following a five-day hearing in October, the commission found that Everton’s losses during that period amounted to £124.5m.
The club has released a statement saying it is “both shocked and disappointed” by the “wholly disproportionate and unjust” ruling.