Everton and the Premier League have released a joint statement confirming that the Toffees are in the clear regarding PSR and will not face a points deduction this season.

Earlier this week league bosses cleared Everton, Nottingham Forest, Chelsea and Leicester City - the clubs deemed most at risk of breaching PSR for the period ending in 2023/24. Toffees fans could be forgiven for fearing the worst after the club was docked eight points in total last season for financial rule breaks.

While being given the all-clear will have been a relief for senior figures at Goodison Park, there was a lingering PSR dispute relating to the period ending in 2022/23, during which Everton had already admitted to a £16.6million breach and accepted a two-point deduction.

In Everton's accounts for that season, a difference of opinion had arisen over how they had capitalised interest payments on their new stadium. The Toffees were given more time to provide documentation to support their case, and it has now been confirmed by both sides that no action will be taken.

Everton's statement read: "The club has resolved all outstanding Profit and Sustainability Rules (PSR) charges brought by the Premier League. The Premier League has formally discontinued the second part of the PSR complaint for the period ending FY23 and has deemed the Club PSR compliant for FY24."

That led onto a joint statement, which read: "The outstanding element of the complaint against Everton Football Club for its breach of the Premier League’s Profitability and Sustainability Rules for the period ending Season 2022/23 has been discontinued meaning that the Club will face no further action."

Another points deduction would have been a nasty welcome gift for new Everton manager David Moyes, who was appointed to replace Sean Dyche last week and began his second spell on Merseyside with a 1-0 defeat to Aston Villa.

Everton are only one point above the relegation zone with three wins and 15 goals scored in their 20 league games this campaign. The club's future looks brighter with new owners The Friedkin Group now in situ, although they are not expected to significantly invest in the squad until this summer.

There have been no arrivals or departures from Goodison Park with just over two weeks left in the window. However, there is the possibility of Armando Broja's loan move from Chelsea being cut short due to an ankle injury, which would make room for another loan arrival.