Everton have had their initial points deduction penalty reduced from ten points to six after a successful appeal.
The Toffees were docked 10 points in November for breaching the Premier League's Profit and Sustainability rules (PSR).
The punishment - the biggest in Premier League history - took Everton from 14th to 19th in the table. However after their appeal, it lifts Everton from 17th to 15th.
Everton are facing another hearing after being charged with breaching rules a second time in January. This new hearing couldn't be held until their appeal against the 10-point deduction was complete.
Everton responded today in a statement:
"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.
"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, including the position under the relevant EFL regulations, and the 9-point deduction that is imposed under the Premier League's own rules in the event of insolvency.
"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 Club is still considering the wider implications of the decision and will make no further comment at this time other than to place on record its thanks to our Fan Advisory Board and other fan groups throughout this process, and to all Evertonians for their ongoing support and patience."
