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BREAKING NEWS: Everton are stunned by a TEN-POINT deduction for breaking Premier League financial rules, which plunges them down to second-bottom of the table, as Blues plot an immediate appeal

Everton have suffered an enormous blow after being found guilty of breaking Financial Fair Play rules and punished with a deduction of 10 points.

The verdict had been looming over the Toffees and casting a shadow over what has been a positive few weeks for Sean Dyche's side, who have now been dragged right back down into a relegation dogfight - moving from 14th to 19th.

An independent commission made the judgement after Everton posted staggering financial losses of almost £372million over a three-year period, more than £250m above what the Premier League's guidelines permits.