Everton have had their 10-point penalty for breaching the Premier League’s Profitability and Sustainability Rules (PSR) reduced to six.

The Toffees were hit with a 10-point deduction in November, but they appealed the independent commission’s decision.

The appeal hearing was heard earlier this month over three days and Everton have now had their punishment reduced.

Everton have now been hit with a six-point deduction instead of 10, meaning they will climb from 17th to 15th in the League when the table is updated later on Monday.

In a statement, Everton said they were “satisfied” that their appeal has resulted in a reduction to their points sanction.

They added: “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.”

The club remain in hot water, though, as they were also charged for breaching PSR last month.

Along with Nottingham Forest, Everton were referred to an independent commission for alleged breaches relating to accounts for last season.

“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,” Everton said in their statement on Monday.

Everton’s appeal earlier this month was heard by a three-person Appeal Board, comprising of Sir Gary Hickinbottom (Chair), Daniel Alexander KC and Katherine Apps KC.

Everton appealed the sanction imposed against them on nine grounds, each of which related to the sanction rather than the fact of the breach, which the club admitted.

Two of those nine grounds were upheld by the Appeal Board, which has substituted the original points deduction of 10 for six.