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The two clubs started the game in the bottom three but a point was enough to drag Leicester out of the drop zone on goal difference, while Everton stay 19th, one point behind 17th-placed Leeds.
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Pickford’s penalty save proved crucial at Leicester.
Leicester City and Everton have to settle for a draw in a chaotic match which leaves both in deep trouble at the wrong end of the Premier League table.
Foxes up to 16th while Everton are a point from safety after four-goal thriller ends level