The hard-hitting defender believes the FA - who are set to charge both West Ham and Millwall this week for failing to control their supporters - will be more lenient on the Premier League East Enders.
When asked about the likely punishments, Nethercott told the London Evening Standard: "If it had happened at Millwall, they would be clambering to close the ground down. As it has happened at a Premier League side - which is a one-off these days - they won't hit them anywhere near as hard."
Both clubs are expected to be hit with a fine by the FA but Nethercott believes any large fines will see the Lions suffer most. He added: "It won't bother West Ham financially but a big fine for Millwall wouldn't help the club at all."
The 35-year-old, who was axed as boss of non-League Malden Town, added: "It was certainly no surprise to me that it went off."