Everton Football Club have avoided a points deduction after the Premier League's appeal over spending rules was overturned.
Everton secured Premier League survival last season despite being penalised with eight points for breaching the competition's spending rules.
The Liverpool club were first penalised with a two-point deduction for excessive spending over a three-year period, after which they lost a further six points for breaching spending limits.
The Independent Regulatory Commission, which made the decision to deduct two points from Everton, has adjourned one part of the case relating to the accounting treatment of interest payments on the club's new stadium.
The break allowed Everton to provide more information about its accounting.
Everton have since changed hands with the purchase of the club by the Fridkin Group, and today announced that the case has been closed as the club has "resolved all outstanding allegations regarding the profit and sustainability rules made by the Premier League".
The Premier League and Everton said in a joint statement that the Liverpool club will not face any further consequences regarding the period at the end of the 2022/23 season.
"After considering further information and documents submitted in detail by the club, the Premier League Board of Directors has decided that it would not be appropriate or proportionate to proceed with the second part of the appeal. The club and the league agree that this concludes all proceedings between the league and the club in relation to the profit and sustainability rules for the financial years ending 30 June 2022 and 30 June 2023," the statement reads.
Everton occupies 16th position in the Premier League table with 17 points.
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