Everton FC has had its 10 point deduction reduced to six points following a successful appeal to an independent board.
The Premier League club was handed its initial point deduction in November after the league found Everton to have breached profitability and sustainability rules (PSR) in the 2021-22 season.
The 10 point deduction was the harshest point deduction in league history. The Premier League came to the decision following a five day hearing last October in which it was determined that the club posted a £124.5m loss, which falls in violation of the annual £105m threshold permitted under the PSR.
Despite this, Everton officials have been working extensively to appeal November’s decision in what the club called a “wholly disproportionate and unjust” verdict.
Everton’s appeal attempts saw the Toffees approach an independent board last January and after a month-long hearing, the club have now recouped four points from the initial 10 point penalty.
An Everton statement said: “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.
“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.
“Notwithstanding the appeal board’s decision, and the positive outcome, the club remains fully committed to cooperating with the Premier League in respect of the ongoing proceedings brought for the accounting period ending in June 2023.”
The six point deduction now moves Everton up the Premier League table to 15th on 25 points, a welcome boost to the club’s chances of avoiding relegation.
The Merseyside club also intends to move into its new stadium next season on Bramley-Moore Dock, which has recently been structurally complete. However, Everton have been charged a second time this season by the Premier League over breaking PSR in January.
