Sheffield Wednesday have been hit with a 12-point deduction by the EFL.
An Independent Disciplinary Commission has found that the Yorkshire club broke the league's Profitability and Sustainability Rules.
However, the sanction will only take effect for the 2020-21 season.
In response, the Owls wrote, "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."
They add, "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.
"The club will await the written reasons for the sanction and upon receipt will digest and consider the full detail with its legal advisers before making any further comment."
Had the points penalty applied for the season just ended, then Wednesday would have been relegated, and Charlton Athletic would have been saved.
Charlton say they are exploring their legal options on the matter.
In a statement, the London club said, "We fail to understand why the deduction will take place next season rather than the current season, which seems to be irrational, and are writing to the EFL to get an explanation of the justification."
Both Wednesday and the EFL have 14 days to appeal against the punishment.
EFL statement:
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.
The sporting sanction will take effect in season 2020/21.
The Club was charged in November 2019 and referred to an independent Disciplinary Commission, which conducted a full hearing at the end of June 2020, before finding the Club guilty based on the fact that the Club should not have included profits from the sale of Hillsborough Stadium in the Club’s financial statements for the period ending July 2018.
The Club was found not guilty of a further charge of breaching its duty of utmost good faith to the EFL by deliberately concealing information from the League in respect of filings made in respect of the Profitability and Sustainability Rules.
Download the brand new OffTheBall App in the Play Store & App Store right now! We've got you covered!
Subscribe to OffTheBall's YouTube channel for more videos, like us on Facebook or follow us on Twitter for the latest sporting news and content.
