The independent commission handed down the penalty on November 17, placing Everton in the relegation zone with immediate effect.
Everton expressed shock and disappointment at the ruling and vowed to appeal. The case will now be considered by an independent appeals commission, which will comprise different members from the original commission panel. A decision on the appeal is expected to be made before the end of the current season.
During a five-day hearing, Everton admitted their breach of the PSR rules. However, the club contends that the severity of the sanction imposed does not align with the evidence presented.
The appeal process will determine whether Everton can overturn the points deduction and potentially improve their league position.