Fulham, Nottingham Forest and Bolton placed under transfer embargo
Trio broke Financial Fair Play regulations last season
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sky Bet Championship clubs Fulham, Nottingham Forest and Bolton have all been placed under a transfer embargo for the rest of the season after breaking Financial Fair Play rules during the 2014-15 campaign, the Football League has announced.
Fulham and Nottingham Forest were sanctioned after exceeding an adjusted loss of £6million - the maximum rules allow - while Bolton were punished after being unable to submit their FFP return owing to their current off-field situation which has seen them served with a winding-up petition by HMRC over an unpaid tax bill.
The punishment means that all three clubs will be unable to sign players in next month's transfer window.
Last season's Championship winners Bournemouth also posted losses of more than £6million and will face a fine, the amount of which is yet to be revealed.
Millwall, who were relegated to League One last term, also went over the maximum deviation of losses, but will not be punished.
A Football League statement read: "An initial analysis of Financial Fair Play submissions from clubs that played in the Sky Bet Championship last season has resulted in three clubs being subject to sanctions, under rules agreed with league clubs in April 2012.
"All three exceeded the maximum permitted deviation of £6m - consisting of a maximum adjusted loss of £3m plus a further maximum of £3m of shareholder investment.
"Champions AFC Bournemouth will face a financial sanction to be finalised in due course, while Fulham and Nottingham Forest will be subject to an 'FFP embargo' for the remainder of the current campaign. Both clubs will have the opportunity to have their FFP embargo lifted at the end of the season by demonstrating that they have stayed within the maximum permitted deviation of £13m (£5m loss plus £8m shareholder investment) for the 2015/16 season.
"A further club, Millwall, also exceeded the maximum permitted deviation but will not face any further sanction, in line with Championship FFP regulations, following the club's relegation to League One as it was not deemed to have gained any significant advantage.
"The Football League is currently in discussions with a number of other clubs over their FFP submissions and will confirm any further FFP embargoes, if any, in due course.
"Bolton Wanderers did not submit an FFP return owing to the club's ongoing financial difficulties. As a result, the club will not be permitted to sign any players until it has complied with its obligations under the Championship's FFP regulations."
PA
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments