Queens Park Rangers says they will fight any attempt by the Football League to fine them for breaking Financial Fair Play rules.
The club could face a charge of more than £58M if they are found to be liable.
QPR are challenging the rules and legal proceedings are ongoing.
The case relates to when they were last in the Championship in the 2013-14 season.
In a joint statement, QPR and the Football League said: "QPR challenges the legality of the Football League's Championship financial fair play rules and any charge against QPR (if any) for breach of FFP Rules shall not be commenced pending the outcome of that challenge.
"The proceedings are confidential in nature and neither party is entitled to comment upon the proceedings until the independent arbitral panel has delivered its decision."
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.
