Everton’s appeal against a hefty penalty imposed on them for breaching the Premier League’s profit and sustainability rules (PSRs) has been partially successful, as the ban was reduced from 10 points to 6 on Monday.

The league released a statement that read: "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, 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." This revised sanction has immediate effect, and the Premier League table will be updated today to reflect this."

The punishment review immediately moved Everton from 17^th on the log to 15^th, and the Merseyside club celebrated the decision, accepting the six-point punishment and making promises to ensure they don’t fall into such a mistake again.

"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 the 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."

Everton and Nottingham Forest were both alleged again in January to have breached the financial rules, but no punishment has been imposed on either party, with a hearing set for next week. The two clubs are also looking at the commission to see what they would do in the case of Chelsea and Manchester City.