The Premier League has penalized Everton with a 10-point deduction for violating the profit and sustainability rule.

• Everton has expressed "shock and disappointment" over the ruling and intends to appeal.
• The club stated that the sanction imposed was not a fair or reasonable reflection of the evidence submitted, despite its harshness and severity.

The Premier League has penalized Everton with a 10-point deduction for violating profit and sustainability guidelines.

Everton has expressed "shock and disappointment" over the ruling and intends to appeal.

The club stated that the sanction imposed was not a fair or reasonable reflection of the evidence submitted, despite its harshness and severity.

The Independent Commission has handed down the largest deduction in Premier League history, which will immediately send Sean Dyche's team into the relegation zone.

The Premier League has announced that Everton FC was found to be in breach of its Profitability and Sustainability Rules during a five-day hearing. The Commission determined that Everton's PSR Calculation for the relevant period resulted in a loss of £124.5m, which exceeded the threshold of £105m permitted under the PSRs.

Prior to their points loss, Everton were 14th in the league table, eight points above the bottom three.

Only two clubs have ever been penalized with points deductions in Premier League history - Middlesbrough, who lost three points for not playing against Blackburn in 1996/97, and Portsmouth, who were docked nine points after going into administration in March 2010.