Sheffield Wednesday was deducted by an independent disciplinary committee for the 2020-21 season for violating spending rules by 12 points.
They broke the rules by adding the sale of their Hillsborough Stadium home to their 2017-18 accounts, even though the floor was sold a year later.
However, they were released from “violating their duty of good faith towards the EFL by deliberately hiding information.”
The owls say that they are “extremely disappointed” with the deduction of points.
If the Yorkshire side deduction had been imposed for the recent 2019-20 season, they would have landed and relegated at the end of the championship.
It would also have saved Charlton Athletic from an immediate return to League One. However, relegation places in the second division remain uncertain as Wigan Athletic applies for its own 12-point deduction for taking office.
Wednesday, who “welcomes the decision that the Commission has released them from” malicious acts, “” said they will wait for the disciplinary committee’s written reasons before considering an appeal.
More will follow.