"Everton has issued a statement on its official website regarding the withdrawal of 10 points in the English Championship due to violation of financial fair play rules.
"Everton Football Club is shocked and disappointed by the decision of the Premier League Commission. The club believes that the Commission has imposed a completely disproportionate and unfair sporting sanction. The club has already announced its intention to appeal the decision to the EPL. The appeal process will now begin and the club's case will be heard by the Appeals Council.
"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 accept the conclusion that it did not act with the utmost good faith and does not understand the allegation made by the Premier League during the proceedings. The severity of the sanctions imposed by the Commission is neither a fair nor a reasonable reflection of the evidence presented.
The Club will also follow with great interest the decisions made in any other cases relating to the Premier League's Profit and Sustainability Rules. "Everton can make no further comment on this matter until the appeal process is complete," the statement said.