Nottingham Forest have been docked four points for breaching the Premier League's profit and sustainability rules (PSR).
Forest were charged in January and referred to an independent commission over alleged PSR breaches in their accounts for 2022/23.
Premier League rules state that clubs can lose a maximum of £105 million over a three-season period - £35m per season - before facing a punishment.
However, because Forest spent two years of the assessment period in the Championship, their maximum loss was only permitted to be £61m.
Forest have spent more than £250m on new players since winning promotion from the Championship in May 2022.
As a consequence of their points deduction, Forest have dropped below Luton Town into the relegation zone.
Forest are the second EPL club this season to receive a points deduction concerning PSR.
Everton lost 10 points in November before that penalty was reduced to six upon appeal. Forest are also likely to appeal.
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