Everton on Monday, saw their 10-point deduction reduced to six following their appeal hearing.
The Premier League side were handed the punishment for breaching the Premier League’s Profitability and Sustainability Rules (PSR).
They were found to have exceeded permitted losses by £19.5m over an assessment period ending with the 2021-22 season.
But Everton appealed the decision with the hearing taking place over three days, which concluded at the start of February.
An official club statement read: “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.
“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.”
Everton will now be on 25 points which moves them up to 15th and five points above the bottom three.
