Everton’s appeal against their second points deduction for breaching the Premier League’s financial rules will be heard “urgently” and a decision made before the end of the season.

The Premier League said the appeal case, which was lodged on Monday, will be heard on an “expedited basis”.

Sean Dyche’s side sit 16th in the table, two points above the drop zone.

The Blues travel to face Chelsea in the league on Monday (kick-off 20:00 BST) aiming to distance themselves from the relegation zone.

Profit and sustainability rules (PSR) permit clubs to lose £105m over three years and an independent commission found Everton breached that by £16.6m for the three-year period to 2022-23.

There were concerns Everton’s latest appeal could drag on until after the conclusion of this season’s top-flight campaign.

The Premier League said: “For clarity and certainty for all clubs and fans, the Premier League will be seeking to have the appeal resolved urgently with the outcome confirmed in advance of Sunday 19 May, the last day of this season.

“An appeal board has been appointed to hear the case after the club lodged the appeal to the chair of the judicial panel today.

“The case will be heard on an expedited basis, in accordance with the league’s standard directions.”

The Merseyside club could yet face a further points deduction in relation to interest costs associated with the building of the club’s new stadium at Bramley-Moore Dock, though that issue is unlikely to be resolved before the end of the season.

Blues agree loan extension

Everton owner Farhad Moshiri and MSP Sports Capital have agreed in principle an extension for prospective buyers 777 Partners to settle the loan owed to MSP, BBC Sport understands.

A £158m figure, which includes monies owed to two local businessmen, was due to be repaid today.

The exact terms of the extension agreement have not been disclosed, but sources say it will be a question of weeks not months.

777 has told BBC Sport it remains confident of meeting the Premier League’s other preconditions to passing the Owners’ and Directors’ Test.

The main checks centre on whether the US-based investment firm can provide evidence of source of funds and give proof of adequate funds for three years of the business plan.

Timeline guide to Everton cases

24 March 2023: Premier League refers Everton to independent commission over alleged breach of financial fair play rules for the three-year accounting period ending with the 2021-22 season.

17 November 2023: Everton receive an immediate 10-point deduction after being found to have breached the Premier League’s financial rules.

15 January: Everton and Nottingham Forest are charged for breaches of the league’s profit and sustainability rules. The hearing has to be concluded within 12 weeks of this date, which is 8 April.

26 February: Everton’s first penalty for breaching Premier League financial rules is reduced from 10 points to six after an appeal.

25 March: Hearing for Everton’s second charge, relating to three-year accounting period ending in 2022-23, takes place this week.

8 April: Everton receive second points deduction of two points.

15 April: Everton lodge formal appeal over second points deduction.

19 May: The final day of the Premier League season, when Everton visit Arsenal (16:00 BST).

24 May: The latest possible date for an appeal hearing to be concluded.