Everton’s initial 10-point deduction for breaching Premier League financial rules has been reduced to six points following a successful appeal.
The decision was made by an independent appeal board and comes into effect immediately.
The Toffees were docked points with immediate effect in November after being found to have breached the league’s rules relating to spending and losses, partly blamed on the rising cost of financing their new ground that is under construction.
Everton, also known as the Toffees, were initially hit with a 10-point deduction in November 2023 for breaching Premier League financial rules.
This penalty was related to spending and losses, and was partly attributed to the costs associated with their ongoing new stadium construction project.
The Premier League found that Everton exceeded their allowed financial losses over a three-year period, leading to a points deduction. The club’s reported losses of £124.5 million exceeded the league’s permitted limit of £105 million.
“An independent Appeal Board has concluded that the sanction for Everton’s breach of the Premier League’s Profitability and Sustainability Rules (PSRs), for the period ending Season 2021/22, will be an immediate six-point deduction,” the Premier League said in a statement.
Everton expressed satisfaction with the appeal board’s decision, which they believe addressed the excessive severity of the initial 10-point penalty imposed in November.
“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,” Everton said in a statement.
“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.” Everton added.
Everton’s position in the 2023-24 Premier League table has improved slightly following the reduction in their points deduction.
However, the club still faces the possibility of further penalties due to ongoing investigations into their financial breaches.
Everton’s relegation concerns have eased slightly as they find themselves positioned between Nottingham Forest and Brentford in the Premier League table.
However, the club remains under investigation for potential further financial sanctions.
