Former Arsenal chairman, David Dein, has said the Premier League’s decision to hand Everton a 10-point deduction could mean disaster for Manchester City and Chelsea.

The Toffees now sit in the relegation zone, after they were found guilty of breaching financial regulations last Friday.

However, it is not only Everton’s finances that are under the microscope.

Manchester City are facing 115 charges, while Chelsea are also under investigation for potential historic breaches.

Dein believes others should be “quaking in their boots” after the punishment meted out to Everton.

He told talkSPORT: “One has to differentiate between the Premier League charging and what happens after that.

“It is an independent tribunal, the Premier League actually has nothing to do with the result and the decision.

“The Premier League do the charging but do not do the judgement.

“To me, it seems extortionate but there you are. It could have a knock-on effect at other clubs and that would be a disaster.”