Everton's 10-point Premier League deduction reduced to six after appeal
The Toffees appealed the decision to hit them with a sanction in November for breaching PSR in the three-year period to 2021/22.
The club will now move onto 25 points, which lifts them into 15th place from 17th and five points above the relegation zone.
"An independent appeal board has concluded that the sanction for Everton FC's breach of the Premier League's profitability and sustainability rules (PSRs), for the period ending season 2021/22, will be an immediate six-point deduction," a Premier League statement read.
"This follows the club's appeal of an independent commission's decision in November 2023 to impose a 10-point deduction for the club's breach of the PSRs.
"The appeal was heard over three days earlier this month, by an appeal board comprising Sir Gary Hickinbottom (chair), Daniel Alexander KC and Katherine Apps KC.
"Everton FC appealed the sanction imposed against it on nine grounds, each of which related to the sanction rather than the fact of the breach, which the club admitted.
"Two of those nine grounds were upheld by the appeal board, which has substituted the original points deduction of 10 for six.
"This revised sanction has immediate effect and the Premier League table will be updated today to reflect this."
Everton, meanwhile, said they were "satisfied" with the board's decision to reduce the sanction posed against them.
"While the club is still digesting the Appeal Board's decision, we are satisfied our appeal has resulted in a reduction in the points sanction," a statement read.
"We understand the Appeal Board considered the 10-point deduction originally imposed to be inappropriate when assessed against the available benchmarks of which the club made the Commission aware, including the position under the relevant EFL regulations, and the 9-point deduction that is imposed under the Premier League's own rules in the event of insolvency.
"The club is also particularly pleased with the Appeal Board's decision to overturn the original Commission's finding that the club failed to act in utmost good faith. That decision, along with reducing the points deduction, was an incredibly important point of principle for the Club on appeal. The Club, therefore, feels vindicated in pursuing its appeal."
Everton were referred to an independent commission in March for an alleged breach of the PSR, which allow clubs to lose a maximum of £105 million over a three-year period.
It was claimed Everton exceeded said limit and had losses of £124.5 million.
While the club accepted a breach, they argued they only went over by £7.9 million with COVID-19 affecting the costs to build their new stadium at Bramley-Moore Dock.
An appeal hearing started in January and lasted a month before Monday's decision for a reduction.
However, Everton still face another points deduction after being charged in January for a second PSR breach alongside Nottingham Forest.
Everton maintained they are "committed to cooperating with the Premier League in respect of the ongoing proceedings" which are related to loss figures ending 2022/23.
