On the subject of "sporting advantage" - I think a lot of people are missing an important point.
The ruling explicitly finds (I would say wrongly) that we DID have a sporting advantage.
"A breach of the PSR involves an
overspend in excess of £105 million above the target of a nil PSR loss. It is
therefore at any level a serious breach. Further, as was recognised in
Sheffield Wednesday FC v The Football League Ltd a breach of the PSR will
confer a sporting advantage on the defaulting club, to the detriment of
competing clubs who have managed their finances more responsibly. The
fact that that sporting advantage cannot be quantified but must be inferred
underlines the need for a sanction that imposes a proper punishment.
Anything less than that would encourage default to the expense of compliant clubs."
"We also recognise that the inference of a sporting advantage is one that should properly be drawn from the fact of a PSR breach, and that sporting advantage will have been enjoyed for each of the seasons
on which the PSR calculation was based – in this case, because of Covid, four
seasons."
In mitigation, the ruling finds that achieving this advantage was not the deliberate aim of the club...
"For example, a deliberate cynical
breach of the PSR to achieve a sporting advantage might increase culpability
beyond that already arrived at by the extent of the breach. We do not think
that this is such a case. Everton may have taken unwise risks, but it did so in
the mistaken belief that it would achieve PSR compliance: it is not a case of
a deliberate breach."
Personally I think it's laughable to suggest a club with a net spend of zero for the past 4 transfer windows, under an alleged wage cap and additional PL scrutiny, could possibly have enjoyed a sporting advantage over others who were free to spend as they wished.
However, the "sporting advantage" is implicit in the ruling and will be the basis of the action taken by clubs who were relegated during these seasons. I personally think that is a much greater concern than 10 pts - which, by the way, is unbelievably disproportionate and unfair and will surely be reduced on appeal.