Sheffield Wednesday has been handed a 12-point deduction for breaking the EFL’s profitability and sustainability rules.
The sanction, given out by an independent disciplinary commission, will be applied to next season’s Championship table.
The EFL statement said Sheffield Wednesday “should not have included profits from the sale of Hillsborough Stadium in the club’s financial statements for the period ending July 2018”.
“The club was charged in November 2019 and referred to an independent disciplinary commission, which conducted a full hearing at the end of June 2020, before finding the club guilty based on the fact that the club should not have included profits from the sale of Hillsborough Stadium in the club’s financial statements for the period ending July 2018.
“The club was found not guilty of a further charge of breaching its duty of utmost good faith to the EFL by deliberately concealing information from the League in respect of filings made in respect of the Profitability and Sustainability.
Wednesday finished 16th in this season’s Championship table, eight points above the relegation zone.
The club, owned by Thai businessman Dejphon Chansiri, intend to await written reasons for the sanction and “consider the full detail with its legal advisers” before deciding its next step.
Their statement read: “Sheffield Wednesday acknowledges the decision of the independent disciplinary commission announced today.
“The club is extremely disappointed that the commission has imposed a 12-point deduction to be applied next season and awaits the written reasons for this decision.
“The club welcomes the decision that the commission cleared Sheffield Wednesday of the charge of acting in bad faith in its dealings with the EFL.
The commission did, however, clear Wednesday of acting in bad faith with the EFL.