Sheffield Wednesday have been slapped with a points deduction that will see the start the 2020-21 Championship season on minus 12 - but has handed them a relegation reprieve.
The Owls have been found guilty of breaching financial rules.
An independent disciplinary commission has deemed the Owls should not have included profits from the sale of its Hillsborough stadium in statements for the period ending July 2018.
"An independent disciplinary commission, appointed under EFL regulations, has ruled that Sheffield Wednesday will receive a 12-point deduction for breaching the league's profitability and sustainability rules for the three season reporting period ending with season 2017-18," read an EFL statement.
"The sporting sanction will take effect in season 2020-21."
A club statement has declared that the Yorkshire side are "extremely disappointed with the verdict.
However, they have welcomed the decision not to impose the penalty this term, which would have resulted in relegation to League One.
The Owls finished 16th in the Championship, eight points clear of the relegation places.
Had the EFL elected to impose the deduction now, taking it away from their 2019-20 total, then they would have found themselves in the third tier next term.
Wednesday were found not guilty of breaching their "duty of utmost good faith to the EFL by deliberately concealing information".
"Sheffield Wednesday acknowledges the decision of the independent disciplinary commission announced today," read a club statement.
"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. Further, the commission decided not to apply a 12-point deduction this season, thereby imposing relegation."
Owner Dejphon Chansiri, intends to await written reasons for the sanction and "consider the full detail with its legal advisers" before deciding whether to take further action in the club's defence.
Meanwhile, Charlton Athletic are considering legal action; they would have stayed up had Wednesday's points deduction taken effect immediately.
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