the points penalty isn't confirmed until the PL meet next week.
Personally they haven't got a chance of overturning the points penalty IMO - if they stay at 16 points, have a good end to the season stay in the division....the PL will be sued left, right and center by the relegated teams.
they just want to get rid of them - i can imagine them giving them some parachute payments, and letting them sell players - but there is no way you can say ''don't take away our points'' - everyone else gets points taken off them, get over it.