Wolves fans have been reacting after seeing Premier League rivals Everton hammered with a ten-point deduction for financial breaches.

The Premier League confirmed the sanction today, a move that drops the Toffees into the relegation zone, above bottom-placed Burnley on goal difference alone.

They released a statement which read: “Following a five-day hearing last month, the Commission determined that Everton FC’s PSR (Profitability and Sustainability Rules)Calculation for the relevant period resulted in a loss of £124.5million, as contended by the Premier League, which exceeded the threshold of £105million permitted under the PSRs.

READ MORE: Wolves rivals Everton hammered with massive Premier League points deduction

READ MORE: Everton hit with points deduction but will appeal Premier League punishment

“The Commission concluded that a sporting sanction in the form of a 10-point deduction should be imposed. That sanction has immediate effect.”

Everton have declared their intention to appeal – while Wolves fans’ attention quickly turned to the moves their club made in the summer when faced with mounting losses they sold Ruben Neves, Matheus Nunes and Nathan Collins for big money.

Here’s a selection of reactions from social media.

@letsdigit: Last season Everton would be relegated, think they’ll be fine this season. So the breaches will have been worth it.

@lloydeo247: Cheers Jeff. Totally vindicated for their actions over the summer.

@MrShot7: Fosun vindicated following the ruling for Everton #wwfc

@matt_thewolf97: I think this is why Jeff Shi did not want to spend massive amounts to rebuild the squad. I think some of us owe Jeff an apology- he was looked out for the interest of the club. To think if we had spent in the summer, this could have been us. Fair play Jeff/ Matt Hobbs.

Sean Dyche's improving team had pulled to within one point and two places of Gary O'Neil's side - who won at Goodison Park in August.

Has Jeff Shi been vindicated? Have your say here...