Everton have withdrawn their appeal against a two-point deduction they were handed by an independent commission for breaching the Premier League‘s financial rules, the club said on Friday.
The Merseyside club, who have successfully avoided relegation, were docked two points in April for breaching the league’s Profit and Sustainability Rules (PSR) for the three-year period to 2022-23 for which they subsequently lodged an appeal.
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In a statement confirming the withdrawal of their appeal on Friday, Everton said: “A hearing scheduled for later this month, will now not proceed, and the club will conclude the 2023-24 Premier League season with a two-point deduction remaining in place.”
Premier League regulations stipulate that a club can lose no more than £105 million ($131.53m) over a three-year period.
Everton admitted to having exceeded that limit by £16.6m to the independent panel.
The club have had one sanction reduced on appeal this season, with the initial 10-point penalty for the same breaches relating to PSR in the three-year period to 2021-22 period reduced to six.
Everton, who sit in 15th place in the table, host Sheffield United at Goodison Park in their last home match of the season on Saturday.