Sheffield United will be deducted two points the next time they play in the Championship after they defaulted on payments to other clubs.
The Blades - who are currently bottom of the Premier League and nine points adrift of safety with seven games to play - are likely to face the punishment next season.
The EFL have imposed the sanction with a further two points suspended if the Bramall Lane club default on any other payments due to another club under a transfer or compensation agreement.
The deduction relates to the 2022-23 season - when they won promotion from the Championship up to the Premier League - after United defaulted on a number of payments owed to other clubs.
These defaults added up to more than 550 days, triggering the two-point penalty.
Sheffield United will begin their next campaign in the Championship with a two-point penalty
Chris Wilder is desperately trying to keep the Blades in the Premier League against all odds
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.'
In a statement, Sheffield United said: '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.
Oli McBurnie celebrates his last-minute equaliser for the Blades against Chelsea on Sunday
'The club is now in a position to close this matter and concentrate on the future.'
Chris Wilder's team haven't won since February 10, though they have gained three draws from their last four matches to offer slim hope of a great escape.
Oli McBurnie's last-minute equaliser earned them a 2-2 draw with Chelsea at Bramall Lane on Sunday.
The Blades make the trip to Brentford this Saturday as they look for more points in their survival mission.
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