No.
6 Pts per transgression, in line with Everton's punishment - so a total of 690 Pts. They get used over multiple seasons to leave them on 0 Pts each year.
So if they get 90 points in the PL this season, they get 90 deducted, leaving 600 Pts in the deficit bank, relegation and start again in the Championship.
That way they are guaranteed multiple successive relegations, while their motivation to win matches is just to slow down the slide a teensy bit