Everton receives the most severe points penalty in Premier League history; the club is “shocked and disappointed” by the judgement and will appeal; Everton has fallen into the relegation zone. According to Sky Sports News, the fee is connected to interest payments on the cost of constructing the club’s new stadium.
Everton say they are “shocked and disappointed” by the ruling and have vowed to appeal.
“Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted,” said the club.
The punishment, which was issued with immediate effect by an independent committee, is the heaviest in Premier League history and pushes Sean Dyche’s squad into the relegation zone.
Everton conceded to the Premier League following a five-day hearing that it had violated the league’s profitability and sustainability regulations (PSR).
The commission determined that “Everton’s PSR calculation for the relevant period resulted in a loss of £124.5m, as contended by the Premier League, which exceeded the threshold of £105m permitted under the PSRs.”
Everton were 14th in the league rankings, eight points above the bottom three, after narrowly surviving relegation to the Championship last season.
In Premier League history, just three clubs have been penalised points. Middlesbrough were docked three points for failing to play a game against Blackburn in 1996/97, while Portsmouth were docked nine points for going into administration in March 2010.
Tottenham were docked 12 points before the 1994/95 season for financial irregularities committed several seasons before, but the punishment was lowered to six points before being annulled.