Premier League refers Everton for alleged financial breach
The Premier League is referring Everton to an independent commission for an alleged breach of its profitability and sustainability rules.
The assessment period for which Everton have been charged covers four seasons from the start of 2018/19 to the end of 2021/22.
Everton are only the second club to be charged with breaking Premier League financial rules after Manchester City were charged last month.
The Merseysiders recorded losses of £371.8m over the past three years. Premier League rules allow clubs to lose a maximum of £105m over three years.
Clubs who break the Premier League's Financial Fair Play rules can be fined or deducted points.
In a club statement, Everton said they were "disappointed to hear of the Premier League's decision.
"The club strongly contests the allegation of non-compliance and together with its independent team of experts is entirely confident that it remains compliant with all financial rules and regulations.
"Everton is prepared to robustly defend its position to the commission. The club has, over several years, provided information to the Premier League in an open and transparent manner and has consciously chosen to act with the utmost good faith at all times."