Everton has been fined 10 points for financial rule violations.

Everton has been docked 10 points for violating the Premier League’s profitability and sustainability rules (PSR) for the 2021-22 season, the league announced on Friday.

An independent commission imposed an immediate deduction, dropping Everton from 14th to the relegation zone, one goal ahead of bottom side Burnley on goal difference.

The Premier League said earlier this year that it had filed a complaint against the Merseyside club and referred the matter to an independent commission.

“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,” the league said in a press release.

“The Commission determined that Everton FC’s PSR Calculation for the relevant period resulted in a loss of £124.5 million ($154.7m), as contended by the Premier League, which exceeded the threshold of £105m permitted under the PSRs.”

 

Everton called the sanction “wholly disproportionate and unjust,” and announced plans to appeal to the Premier League.

“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,” said a statement issued by the club.

“The club does not accept the finding that it failed to act in good faith, and it does not believe this was an allegation made by the Premier League during the course of the 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.”