Everton’s hopes of avoiding relegation have been boosted after the club saw their ten-point deduction for breaching financial rules reduced to six points on appeal.
The Toffees were slapped with the ten-point deduction in November after an independent commission ruled that they had breached profit and sustainability rules following losses of £124.5million in the three years prior to 2021-22, almost £20m more than they were permitted.
The club immediately appealed the decision, which saw them hit with the biggest sporting sanction in the Premier League’s history and following a three-day hearing earlier this month, the Premier League have now cut the deduction to six points.
This has been immediately applied to the Premier League table, which means Sean Dyche’s side are up to 15th place and are now five points clear of the relegation zone. The Toffees have moved ahead of Nottingham Forest and Brentford in the table, while Luton Town are now four points adrift of safety.
A Premier League statement said: "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."
Everton released a statement of their own, in which they said their appeal was 'vindicated'.
"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," it reads.
"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 nine-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."
Despite this partially successful appeal, Everton face the prospect of another sanction after they were charged with breaking the rules for a second time earlier this month, this time alongside Nottingham Forest.
This latest charge relates to the assessment period from the 2019-20 season up until the end of the 2022-23 campaign and the case will be heard by April 8.
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