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Everton were sanctioned by an independent commission on November 17 after being found to have exceeded permitted losses by £19.5m over an assessment period ending with the 2021-22 season.

The club appealed the decision with the hearing taking place over three days, which concluded at the start of February.

Everton will now be on 25 points which moves them up to 15th and five points above the bottom three.

An Everton statement read: “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.

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“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.”