Everton's penalty for breaching Premier League financial rules has been reduced from 10 points to six following an appeal, the English top flight announced on Monday.

The club were hit with the punishment in November after an independent commission found they had exceeded permitted losses under the league's profitability and sustainability rules over an assessment period ending with the 2021/22 season.

But an independent appeal board has cut that by four points, which moves the club up to 15th place.

"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," the Premier League said in a statement.

"Two of those nine grounds were upheld by the appeal board, which has substituted the original points deduction of 10 for six."

The club face a second PSR complaint over breaching rules over the period running to the end of last season.