Loughgall say they are taking legal advice after being hit with a points deduction and fine.
The Lakeview Park club's promotion hopes were dealt a blow after they were penalised for fielding an ineligible player earlier in the season.
The Championship club lost four points for fielding Marcio Soares in games against Ards and Knockbreda back in September.
Loughgall drew 0-0 with Ards on September 21 and earned a late 2-1 win over Knockbreda the following week.
The Villagers have now had to forfeit both games - with their opponents being awarded 3-0 wins - as well as an Under 20 game Soares played in against Ballinamallard United Reserves on September 14.
They have also been fined £375 in respect of Soares' participation in all three games.
Loughgall said on their social media channels: "Following a lengthy appeals process in which two previous hearings found in Loughgall's favour, Loughgall Football Club is extremely disappointed with the recent decision of the IFA appeals board to deduct four points and fine the club £375.
"We aim to challenge this and are currently taking legal advice on the matter."
The penalty has had a significant impact on the NIFL Championship table, with Loughgall dropping from second to third, and now eight points behind leaders Portadown.
Meanwhile, at the very bottom of the table Knockbreda have leapfrogged PSNI.
It is not yet know when the Championship season will be concluded due to the coronavirus crisis.
All football in Northern Ireland is currently suspended until at least May 31.
