Everton are reportedly preparing to submit their appeal against the 10-point deduction in the Premier League which was handed by Independent Commission.
Recall we reported that the Toffees were sanctioned on November 17 for a breach of the League's profit and sustainability rules and were given 14 days to appeal.
After it is filed, the case will be reviewed by an impartial appeals commission made up of individuals who were not on the original commission panel.
The Premier League team promised to appeal the decision, stating they were "shocked and disappointed" by it.
Everton said, "Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted."
Sean Dyche's squad was thrown into the relegation zone by the Premier League's biggest deduction in history, which was handed down by an impartial commission and took effect right away.
The Premier League claims that Everton acknowledged breaking the profitability and sustainability regulations (PSR) during a five-day hearing.
The commission also confirmed 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 was eight points above the bottom three in the league standings before their points loss, having just missed out on relegation to the Championship the previous season.
In the history of the Premier League, just three clubs have had points deducted from them.
Three points were taken away from Middlesbrough for missing a match against Blackburn in the 1996–97 season, and nine points were taken away from Portsmouth following their administration in March 2010.
Due to financial violations that were committed several seasons prior, Tottenham were given a 12-point deduction before the 1994–1995 season.
However, that punishment was subsequently revoked and reduced to six points.
Recall we reported that the Toffees were sanctioned on November 17 for a breach of the League's profit and sustainability rules and were given 14 days to appeal.
After it is filed, the case will be reviewed by an impartial appeals commission made up of individuals who were not on the original commission panel.
The Premier League team promised to appeal the decision, stating they were "shocked and disappointed" by it.
Everton said, "Both the harshness and severity of the sanction imposed are neither a fair nor a reasonable reflection of the evidence submitted."
Sean Dyche's squad was thrown into the relegation zone by the Premier League's biggest deduction in history, which was handed down by an impartial commission and took effect right away.
The Premier League claims that Everton acknowledged breaking the profitability and sustainability regulations (PSR) during a five-day hearing.
The commission also confirmed 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 was eight points above the bottom three in the league standings before their points loss, having just missed out on relegation to the Championship the previous season.
In the history of the Premier League, just three clubs have had points deducted from them.
Three points were taken away from Middlesbrough for missing a match against Blackburn in the 1996–97 season, and nine points were taken away from Portsmouth following their administration in March 2010.
Due to financial violations that were committed several seasons prior, Tottenham were given a 12-point deduction before the 1994–1995 season.
However, that punishment was subsequently revoked and reduced to six points.