“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.”
The Owls admitted they were “extremely disappointed” by the decision.
A statement from the club read: “Sheffield Wednesday acknowledges the decision of the independent disciplinary commission announced today.
“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.