Sheffield United will start with a two-point deduction the next time they play in the Championship, following a ruling by the EFL.
The Blades broke EFL rules by defaulting on payments to other clubs during their 2022-23 promotion season.
As well as the initial deduction, the Premier League’s bottom club have been handed a further two-point suspension.
The club said it was “disappointed” but will not appeal against the decision.
Instead, Sheffield United added that it “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.”.
The Blades’ sanction, which begins from the start of the next season they are in the Championship, includes paying the EFL’s legal costs of £310,455.
The deferred payments, which were cumulatively in excess of 550 days, came during a campaign in which the club was managed by Paul Heckingbottom and finished runners-up to Burnley.
The Blades, now led by Chris Wilder, are bottom of the Premier League and nine points adrift of safety with seven matches left.
The EFL said the suspended points deduction will be activated if the club defaults on any further payments in excess of five business days from the due date of the agreement.
