Everton's punishment for breaching the Premier League's profits and sustainability rules (PSR) has been reduced from 10 points to six on appeal by the Merseyside club, the Premier League announced on Monday.
The initial 10-point ban was handed down in November, and Everton immediately lodged their appeal against what was the toughest ban of its kind in Premier League history.
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In a statement on Monday, the league said: “Everton FC appealed the sanction imposed against them on nine grounds, each of which related to the sanction rather than the fact of the offence, which the club admitted.
“Two of those nine reasons were confirmed by the Appeals Chamber, which replaced the original deduction of 10 points with six.
“This revised sanction takes immediate effect and the Premier League table will be updated today to reflect this.”
The decision moves Everton from 17th in the league table to 15th, five points above the relegation zone.
Everton said it was satisfied with the ruling in a club statement released on Monday.
“We understand that the Appeals Board considered the 10-point deduction originally imposed to be inappropriate when assessed against the available benchmarks reported to the Commission by the club, 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 did not act with the utmost good faith.
“That decision, together with the reduction of the points deduction, was an incredibly important point of principle for the Club in the appeal. The club therefore feels justified in pursuing its appeal.”
The Premier League PSRs stipulate that a club cannot lose more than £105 million ($133.6 million) over a three-year period.
Everton's figures leading up to the punishment showed a fifth consecutive year of losses, with a total loss during that period amounting to more than £430 million.
The club said it had recorded a loss of £44.7m for the 2021-22 season earlier this year.
After three consecutive years of losses exceeding £100m, Everton said it had made significant reductions in its losses, £76m less than last year's £121m loss.
Everton were charged again in January for new PSR breaches, along with Nottingham Forest, but the league has yet to receive any punishment.
“Despite the Appeals Board's decision and positive outcome, the club remains fully committed to co-operating with the Premier League in respect of the ongoing procedures initiated for the accounting period ending June 2023,” Everton said. about those charges in his statement.
