By David Lynch, Merseyside Correspondent

25th Mar, 2023 | 8:00am

Sources: Everton taken by 'surprise' by Premier League financial charges

Everton were not notified that they were about to be charged with an alleged breach of the Premier League’s financial rules prior to Friday’s announcement, sources have told Football Insider.

A statement published on the league’s official website on Friday afternoon confirmed that the Toffees have been referred to an independent commission over allegations relating to their accounts covering the period up to the 2021-22 season.

If found guilty, they could face a fine or a points deduction, with the latter punishment a particularly worrying prospect for a club currently situated just two points above the relegation zone.

Under the Premier League’s Profit and Sustainability rules, clubs are allowed total losses of £105m over any three-year period.

Everton far outstripped that in losing £373m in the three years up to the 2020-21 season, and news of an investigation suggests the club’s latest set of accounts, which have yet to be released, will show little improvement.

Both Burnley and Leeds United have previously called for further scrutiny of the Blues’ accounts, writing to the Premier League following last season’s miraculous escape from relegation under Frank Lampard.

However, senior Everton figures have long maintained that they have operated transparently when submitting accounts to the league and that the huge shortfalls of recent years could be explained.

As such, Fooball Insider has been told that news of charges and the threat of potential penalties came as a “surprise” to many at Goodison Park, with the club now preparing “to robustly defend its position to the commission”.

The Premier League’s statement read: “In accordance with Premier League Rule W.82.1, the Premier League confirms that it has today referred an alleged breach of the League’s Profitability and Sustainability Rules by Everton Football Club to a Commission under Premier League Rule W.3.4. The assessment period for which it is alleged that the Club is in breach is the period ending Season 2021/22.

“Commissions are independent of the Premier League and member clubs. The members of the Commission will be appointed by the independent Chair of the Premier League Judicial Panel, in accordance with Premier League Rules W.19, W.20 and W.26.

“The proceedings before the Commission will, in accordance with Premier League Rule W.82, be confidential and heard in private. Under Premier League Rule W.82.2, the Commission’s final award will be published on the Premier League’s website. The League will be making no further comment until that time.”

In other news, Everton are confident Alex Iwobi will sign a new long-term deal but he is not expected to put pen to paper until the summer amid doubts over the club’s top-tier status.