A Toffees statement vowed to appeal the record sanction and added: "The Club will also monitor with great interest the decisions made in any other cases concerning the Premier League's Profit and Sustainability Rules."
Everton had gone £19.5million over the three-year limit for losses under the league's finance regulations and many feel the punishment handed down is harsh. Some have stoked fear over the potential penalties City could face if found guilty of the allegations against them.
The Premier League levelled 115 charges of financial wrongdoing at the Blues back in February, claims the club denies in full. "We look forward to this matter being put to rest once and for all," City said in a defiant statement.
The Premier League seems keen to stamp its authority after its integrity was questioned amid the attempted Super League breakaway in 2021, when analysts felt those involved got off lightly.
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