An appeal board has reduced Everton’s 10 points deduction for breaching Premier League profit and sustainability rules (PSR) to six points, the Merseyside-based club said in a statement on Monday.

Last November, Everton was docked 10 points for breaching financial rules in the three years to 2021/2022, resulting in the biggest in Premier League history and taking the club from 14th to 19th.

However, the club immediately decided to appeal the independent commission’s verdict. On Monday, a three-man appeal board sided with Everton, reducing the penalty from 10 points to six points.

The appeal board said the commission “made legal errors” on two grounds in their ruling against Everton, saying it was “wrong” to punish Everton for being “less than frank” over what it told the Premier League about its new stadium debt.

It also ruled that a six-point deduction was the right punishment in line with the English Football League guidelines. The verdict took Everton from 17th to 15th with five points clear of the relegation zone with 12 games remaining.

Premier League clubs can only lose a maximum of £105 million in three years, but Everton lost £125 million.

“Everton FC appealed the sanction imposed against it on nine grounds, each of which related to the sanction rather than the fact of the breach,” the Premier League said in a statement on the appeal board decision.

Meanwhile, Everton are facing another possible points deduction for breaking the PSR in three seasons up to 2022-2023 — the club said they are “fully committed to co-operating” with the Premier League over the second charge.