Everton are set to avoid a potential points deduction over their spending after reaching an ‘agreement’ with the Premier League.

The club have recorded losses of over £260m between 2017 and 2020, a figure which far exceeds the Premier League’s permitted maximum of a £105m loss over a three-year period but according to the Mail, they won’t be punished after consulting over player signings and new contracts.

The reports indicate that the club has agreed ‘to share financial information and work closely with the Premier League in order to reduce the threat of a potential breach’.

The Toffees delayed the publishing of their 2020/21 accounts as discussions were held with the Premier League and are expected to announce further losses before the end of the month.

It is said that the main reason why they were let off the hook was on the allowances permitted for lost income due to Covid-19 and infrastructure spending which are set to keep the club within the set limits.

Investment in stadium developments and infrastructure, women’s football and community projects are exempt from the loss calculations.

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