Everton dropped into the relegation zone after the deduction (Picture: PA Wire)
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 of £105million over a three-year period or face sanctions.
As a result of the punishment, Everton will drop into the relegation zone, but there could be more trouble for Sean Dyche’s side after it emerged that other clubs are looking to sue Everton following confirmation of the ban.
According to a report by The Daily Mail, representatives from Leicester, Leeds and Burnley met this afternoon following the announcement and are set to press forward with legal action.
Leicester and Leeds were both relegated last season, with Everton escaping by two points courtesy of a dramatic win over Bournemouth on final day.
Both clubs will argue that the case – brought up in March – should have resulted in a points deduction last season rather than this year.
Abdoulaye Doucoure’s goal against Bournemouth kept Everton up on final day of last season (Picture: Getty)
Burnley were relegated the season prior, but will likely argue that Everton’s rule-breaking spending was going on in that season as well.
Everton, meanwhile, have criticised the severity of the deduction and announced their intention to appeal the ruling.
A statement on the club’s website said: ‘Everton Football Club is both shocked and disappointed by the ruling of the Premier League’s Commission.
‘The Club believes that the Commission has imposed a wholly disproportionate and unjust sporting sanction. 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.’