Everton could face a points deduction after they were referred to an independent commission by the Premier League.
Everton have been charged with a breach of profit and sustainability rules.
The Times are reporting that there is no set sanction should Everton be found guilty as no case has ever been carried through to its conclusion.
The report goes on to claim that punishment could include a points deduction or a fine.
In a statement Everton said that they had operated in an open and transparent manner" with the league.
