Everton hit with additional two-point deduction for another breach of Premier League's financial rules

The penalty drops Everton to 16th place, two points above the relegation zone and brings total point deduction to eight

Everton received a further two point deduction on Monday for another breach of the Premier League's profit and sustainability rules, bringing them closer to the relegation zone with seven games to go this season.

"Over a three-day hearing last month, the independent Commission heard evidence and arguments from the club in respect of a range of potential mitigating factors for its admitted breach of £16.6 million, including the impact of its two successive PSR charges," a Premier League statement read in part. "Having done so, the Commission determined the appropriate sanction to be a two-point deduction, taking effect immediately."

The latest point deduction leaves Everton in 16th place, two points above the relegation zone.

This is Everton's second point deduction of the season. The team was hit with a 10 point punishment in November that was later reduced to six upon appeal, but they have no plans to appeal the newest ruling.

"While the club's position has been that no further sanction was appropriate, the club is pleased to see that the commission has given credit to the majority of the issues raised by the club, including the concept of double punishment, the significant mitigating circumstances facing the club due to the war in Ukraine, and the high level of co-operation and early admission of the club's breach," Everton said in a statement issued on social media.

The Premier League's financial rules state that no club can lose more than £105 million over a three-year accounting period, but Everton were found to have lost £124.5 million up until the end of the 2022-23 accounting period.

Everton are not the only team to receive a penalty for PSR breaches this season -- Nottingham Forest, another club fighting relegation, received a four point deduction last month and are in the midst of appealing that decision. Forest currently sit 17th in the Premier League table, only on the outside of the relegation zone thanks to a superior goal difference.