Everton have been deducted 10 points by an independent commission after being found to have breached Premier League financial rules. The league referred Everton to the commission in March for an alleged breach of its profitability and sustainability rules in the period ending in the 2021-22 season. The rules allow clubs to lose a maximum £105million over a three-year period or face sanctions. Everton issued a statement confirming their intention to appeal against the sanction. The Premier League said in a statement published on its official website: “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. “Following a five-day hearing last month, the Commission determined that Everton FC’s PSR Calculation for the relevant period resulted in a loss of £124.5million, as contended by the Premier League, which exceeded the threshold of £105million permitted under the PSRs. “The Commission concluded that a sporting sanction in the form of a 10-point deduction should be imposed. That sanction has immediate effect.” Everton said they were “shocked and disappointed” by the sanction imposed by the commission. “The club believes that the Commission has imposed a wholly disproportionate and unjust sporting sanction,” the Toffees statement read. “The club has already communicated its intention to appeal the decision to the Premier League. The appeal process will now commence and the club’s case will be heard by an Appeal Board appointed pursuant to the Premier League’s rules in due course. “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. “The club does not recognise the finding that it failed to act with the utmost good faith and it does not understand this to have been an allegation made by the Premier League during the course of 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. “The club will also monitor with great interest the decisions made in any other cases concerning the Premier League’s Profit and Sustainability Rules.” Read More Exeter captain Poppy Leitch hoping for more progress during inaugural PWR season Street Child Cricket World Cup gives youngsters chance to shine Wales v Armenia: Key talking points as Rob Page’s side face crunch qualifier Athletics’ move from Oakland to Las Vegas approved by MLB owners On This Day in 2013: David Haye has to rethink his plans Cincinnati Bengals lose Joe Burrow as they go down to Baltimore Ravens

New York Yankees star Aaron Judge became the fastest player in major league history to reach 250 home runs with a solo shot off Justin Verlander in the fifth inning against the Houston Astros

Through two days of training camp, it looks as if Nick Foligno is well on his way to becoming one of the most popular players with the Chicago Blackhawks

Over the past 10 years, Bindi Irwin, 24, has endured 'insurmountable pain' caused by endometriosis, a condition in which tissue similar to the uterus lining grows outside

The US secretary of defense told CNN on Thursday he has "no doubt" that Ukraine will become part of NATO after Russia's war against the country ends, following a two-day summit that was dominated by the question of when Kyiv would join the alliance.

By Nandita Bose WASHINGTON President Joe Biden will meet with Shawn Fain, the head of the United Auto

New Mexican Spanish is a unique dialect, a mixture of centuries-old Spanish with Indigenous words that evolved through historical isolation

Natalie Branda recalled feeling a pressure on her thigh while she was in the water only to realize she had been bitten by a shark

A former U.S. Marine who was released from Russia in a prisoner swap last year has been injured while fighting in Ukraine

By Gergely Szakacs BUDAPEST Poland's government must ensure its fiscal policies support the fight to bring inflation down,

Michael Pratt threw for three touchdowns in his South Florida homecoming to lead No. 17 Tulane to a 24-8 victory over Florida Atlantic

Spain's Women's World Cup hero Olga Carmona paid tribute to her father on Monday for giving her the strength "to achieve something unique" after learning of his death following...