Everton will no longer proceed with their appeal against a two-point reduction for breaching spending rules.

The Toffees had initially decided to fight the punishment handed down by an independent regulatory commission last month.

But a statement on their official X page read: “Everton Football Club has withdrawn its appeal of the decision by a Premier League independent commission to impose a two-point deduction on the club for a breach of the Premier League’s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 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 go into their final two fixtures in 15th place with 37 points, 11 clear of the bottom three and their Premier League survival is assured.