Sheffield Wednesday have been charged by the EFL for "multiple breaches" relating to the club's payment obligations.
In March, the Championship club failed to pay the players their salaries on time due to what were described as "cashflow" issues.
It has since been reported there were also problems with payments for May - which are also said to have included non-playing club staff and other employees.
The EFL described the situation as "clearly concerning", with the governing body "considering all the options available".
On Tuesday, the EFL subsequently confirmed formal action had now been initiated.
"Sheffield Wednesday Football Club has been charged with multiple breaches of EFL regulations relating to payment obligations," a statement from the EFL read.
"The owner of Sheffield Wednesday, Dejphon Chansiri, has also been charged with causing the club to be in breach of EFL Regulations despite his commitment to fund the cash requirements of the club.
"All charges relate to both the Ultimate Beneficial Owner and the club failing to meet their obligations to pay players' wages on time and in full in March and May 2025.
"The club and Mr Chansiri have 14 days to respond to the charges."
Wednesday finished 12th in the Championship - and manager Danny Rohl has been linked with a move away during the summer.
The club later issued a statement in which Chansiri offered his "sincere apologies" to everyone who had been impacted, with a resolution sought "at the earliest possible opportunity".
"Sheffield Wednesday acknowledge the statement issued by the EFL on Tuesday afternoon," a statement on the Owls' official website read.
"The club continue to seek a resolution regarding outstanding salaries due for the month of May at the earliest possible opportunity.
"Mr Chansiri sincerely apologises to all players, coaches and staff affected and everyone connected with the club.
"We will make no further comment at this time."
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