Everton have been handed a second points deduction this season after being found to have breached Premier League financial rules.

The Toffees were stripped of ten points in November, reduced to six on appeal, for breaking Profit and Sustainability Rules regarding their accounts for the 2021-22 season.

Clubs are allowed to lose £105million over a three-year cycle and last month Everton announced losses of £89.1m for the 2022-23 campaign alone.

Ongoing financial turmoil has seen the club rack up debts of £330m amid a prolonged takeover bid by 777 Partners.

A fresh investigation by an independent commission has led to a further two points deducted, announced on Monday afternoon.

The Merseyside club have said they will appeal the verdict and league bosses have stipulated that any such appeals must be completed by the season’s end.

Nottingham Forest were deducted four points, subject to an appeal, last month and Manchester City’s 115 charges for financial irregularity are due to be heard at a later date.

Everton now sit 16th and just two points above Forest and 18th-placed Luton in the fight to avoid relegation. Brentford move a place up in the table and have a four-point buffer on the dropzone.

A club statement read: “In January 2024, Everton were charged by the Premier League for breaching the permitted Profit and Sustainability thresholds for the assessment period ending 2022-23.

“The matter was referred to a Premier League Commission, which has today announced Everton will receive an immediate two-point deduction.

“While the club’s position has been that no further sanction was appropriate, the club is pleased to see that the Commission has given credit to the majority of the issues raised by the club, including the concept of double punishment, the significant mitigating circumstances facing the club due to the war in Ukraine, and the high level of co-operation and early admission of the club’s breach.

“Everton remain committed to working collaboratively with the League on all matters relating to PSR but is extremely concerned by the inconsistency of different commissions in respect of points deductions applied.

“The club would like to place on record its thanks to the Fan Advisory Board and other fan groups for their submissions during this process, and to all Evertonians for their ongoing patience and unstinting support.

“The club and its legal representatives have begun the preparations to appeal the Commission’s decision.”