The Toffees were referred to an independent commission in March this year for an alleged breach of profit and sustainability rules in the period ending in the 2021/22 season.

The club are now languishing in the relegation zone.

In a post on X, formerly known as Twitter, the club stated: "Everton Football Club has today lodged with the Chair of the Premier League’s Judicial Panel its appeal of the decision by a Premier League Commission to impose a 10-point deduction on the Club.

"An Appeal Board will now be appointed to hear the case."

The appeal will reportedly be heard and concluded before the end of this season.

The deduction came after Everton posted losses of close to £372 million over three years, more than the £250 million losses the league allows over that time frame.

It is only the third time in Premier League history that a club has received a points deduction.

Middlesbrough were previously docked three points for a failure to fulfil a fixture against Blackburn in the 1996/97 campaign while Portsmouth were deducted nine in 2010 after entering administration.

Champions Manchester City are facing more than 100 charges of breaking the league's financial rules but are yet to face any sanctions - something that has drawn the ire of supporter groups and pundits including Sky Sports' Gary Neville.