Earlier in the season, the Premier League ruled that Everton would be deducted 10 points for breaching the division's profit and sustainability rules over a three-year-period.
Up until 2021-22, Everton's losses amounted to £124.5m, almost £20m more than the allowed £105m deficit, and was the most severe punishment in Premier League history.
However, Everton argued that unforeseen extra costs from building their new stadium contributed to the loss, as well as arguing that «they acted in the utmost good faith».
Furthermore, the Toffees had been in previous dialogue with the Premier League regarding the threat of going over the financial threshold in the preceding months, and expressed their shock at the severity of the punishment.
Having immediately set about launching an appeal, Everton have been forced to wait over three months to establish whether the 10-point penalty, which put the club in a relegation scrap, would stand or be reduced.
On Monday, Everton learned that four points would be added back to their total, moving them five points clear of the bottom three, as well as a club statement revealing that it had been acknowledged that the view that they had not acted in the utmost good faith was inaccurate.
It read: «Everton can confirm an Appeal Board has concluded that the points deduction imposed by an independent Premier League Commission in November be reduced from 10 points to six points, with immediate effect.
»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
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