The Goodison Park side have lost over £370m over the last three years, while Premier League financial fair play rules call for losses of just £105m over the same period; clubs are allowed to write off losses incurred due to covid.
Burnley and Leeds have now written to the Premier League to ask what action has been taken against Everton or what investigations have been launched.
The pair feel the Toffees have breached financial fair play rules, which if correct could lead to sanctions, including a possible points deduction.
However, Everton have denied breaching rules and insisted if Burnley and Leeds, who reserve the right to take legal action, want to go through the courts that is their choice.
“We have worked closely with the Premier League to make sure we are compliant. We are comfortable we have complied with the rules”, Everton were quoted as saying by journalist Alan Myers.
“External auditors have told us what we can and cannot claim against the pandemic.
“If clubs want to take legal action that’s their decision”, the Toffees added.
Everton secured their top flight status by beating Crystal Palace 3-2 on Thursday and now either Burnley or Leeds will go down on Sunday.