Sheffield United will be deducted two points when they next play in the Championship, with the club hit with a punishment from the EFL after defaulting on payments to other clubs during their promotion season in 2022-23.
The Blades are currently bottom of the Premier League table, eight points from safety, meaning that the points deduction could be brought into force for the 2024-25 campaign.
Sheffield United, who have also agreed to pay the EFL's costs of £310,455, will have another two-point deduction suspended until the end of that particular season.
A statement from the EFL read: "An independent Disciplinary Commission (IDC) has determined that Sheffield United Football Club are to be deducted two points at the start of the next season the club is in the EFL's jurisdiction, with a further two points suspended until the end of that same season.
"The sanction relates to the 2022/23 season, when the Club defaulted on a number of payments to other Clubs. These defaults cumulatively were in excess of 550 days.
"The suspended points deduction will be activated if the Club defaults on any payment due to another Club under a transfer or compensation agreement for more than five business days from the due date for payment.
"The Club has agreed to pay the EFL's costs in the sum of £310,455."
Meanwhile, Sheffield United said in a statement of their own: "Sheffield United notes today's statement from the EFL with regards to breaches by the club of regulations 52.2.3 and 52.2.4 in the 2022/23 season.
"It has been agreed that the Blades will commence the next season in which the club is subject to the EFL's jurisdiction with a two-point deduction.
"The club's position in the proceedings was that the relevant sums relied on by the EFL had been paid in full, on several occasions only days after they were initially due, or renegotiated with new future payment dates adhered to before the club was notified of the referral.
"The club has co-operated with the EFL to reach a negotiated settlement on the issues in question.
"While disappointed to have the deduction imposed upon the return to the EFL and highlighting that awaiting overdue monies from several other clubs affected Sheffield United's financial situation, the club took the view that it was better to reach an agreement which minimised the risks of a higher deduction or further transfer embargoes being imposed, and being distracted by lengthy and costly legal proceedings.
"The club is now in a position to close this matter and concentrate on the future."
Sheffield United have only lost one of their last four matches in the Premier League and will enter Saturday's clash with Brentford off the back of a 2-2 draw with Chelsea.
The Blades will face Brentford, Burnley, Manchester United, Newcastle United, Nottingham Forest, Everton and Tottenham Hotspur in their final seven league games of the campaign.
