The Cherries have moved up to 16th in the Premier League four points clear of the relegation zone after rivals Everton were deducted 10 points.
The Toffees were dealt a devastating blow after being hit with the biggest sporting sanction in the competition’s history.
The penalty comes amid the club being found to have breached the Premier League’s profit and sustainability rules.
Everton now sit 19th in the table with four points, in the relegation zone just ahead of Burnley who they are matched with points.
Premier League clubs are permitted to lose £105m over a three-year period, with Everton admitting to being in breach of the profit and sustainability rules (PSR) for the period ending 2021-22.
The club was referred to an independent commission in March by the Premier League, but details of the alleged breach were not revealed.
In their written report, the commission explained why the points deduction was so high – stating that the cause of the club’s issues was because of overspending, an inability to sell players, and a lower than projected league finish.
This points deduction comes at the relief of the Cherries who now sit in a slightly more comfortable position of 16th, making them four points clear of the relegation zone.
After a string of poor results leaving manager Iraola’s future at the club in doubt, the Cherries, who lost 3-0 at Goodison Park in October, now have a chance to redeem their season.
Everton will be looking to appeal the decision, according to the club.