Everton have been handed a 10-point deduction this season for breaching the Premier League’s profit and sustainability rules.

The club was referred to an independent commission in March for alleged breaches relating to the 2021-22 season and a hearing took place last month.

Everton could have been fined or given a transfer embargo, but the Premier League have now confirmed the punishment of a points deduction, which will see Sean Dyche’s side drop to 19th in the table, only above bottom-placed Burnley on goal difference.

and later:

Premier League rules dictate clubs are allowed to lose a maximum of £105million ($128.4m) over three years, but Everton recorded losses of £370million between 2018 and 2021.

The club said in a statement in March that they were “entirely confident” they were compliant with all financial rules and regulations.

Everton’s hearing is only the second time action like this has been taken, after Manchester City were hit with more than 100 financial fair play charges last season.

The outcome in City’s case has not yet been communicated, with The Athletic reporting that a verdict — which would be subject to appeal — would likely take considerable time to be reached.