The Toffees received a sanction from an independent commission for surpassing permitted losses by £19.5 million over three years, a decision disclosed on Friday.
Promptly, the club expressed their intent to appeal, anticipating the process to conclude within the current season.
As a consequence of the points deduction, Sheffield United climbed up the Premier League standings, now a mere point away from escaping the relegation zone.
There is a possibility of compensation claims against Everton in this matter, although no club has publicly declared an intention to make such claims at this point.
Even though the points deduction still means Everton are just a point behind Sheffield United, you never know with these type of things how much it impacts teams psychologically.
The Blades should get a huge morale boost, ready for their home game against Bournemouth on Saturday, knowing that a win could move lift them out of the bottom three.
Meanwhile for Everton, their players are either going to be feeling sorry for themselves over the situation, or, they will be extra determined to claw ten points back as quickly as possible.
There’s a chance the point deduction could be reduced with a successful appeal, but with that also comes the possibility of it being increased as well.
They are next in action against Manchester United at Goodison Park this weekend.