“The club will pay a fine of £500,000 and will be banned for two years from registering any Academy player who has been registered with another Premier League or EFL club in the preceding 18 months. The club will also pay additional compensation payments to the former clubs of two Academy players.”
“In short, we are extremely disappointed with some of the practices we have found which are not in line with our values and not acceptable to Everton Football Club. Accordingly, we have accepted the penalties imposed on us by the Premier League and have given them our strongest apologies.
“We have already commenced a full review of our Academy operations and are committed to ensuring that issues like this do not happen again at Everton.”
After it was first reported that Everton were under investigation, the club suspended their head of recruitment, Martin Waldron.