The Toffees were docked two points after it was found they had breached the division's Profitability and Sustainability Rules (PSR) by £16.6 million above the £105 million allowable in a three-year period to 2022/23.

It means Everton have been deducted eight points in total, but have secured their Premier League status after recording three straight wins over Nottingham Forest, Liverpool and Brentford last month.

"Everton Football Club has withdrawn its appeal of the decision by a Premier League Independent Commission to impose a two-point deduction on the club for a breach of the Premier League's Profitability and Sustainability Rules for the accounting period ending in June 2023," a club statement read.

"A hearing, scheduled for later this month, will now not proceed, and the club will conclude the 2023/24 Premier League season with the two-point deduction remaining in place."

Everton were also deducted 10 points which was reduced to six on appeal in February for breaches of £19.5 million up to 2021/22.

It comes after Nottingham Forest saw an appeal against a four-point deduction rejected earlier this week.