Sheffield Wednesday will be deducted 12 points for the 2020/21 Championship season after being found guilty of breaching financial rules.

An independent disciplinary commission, appointed under English Football League regulations, deemed the Owls should not have included profits from the sale of Hillsborough Stadium in statements for the period ending July 2018.

The South Yorkshire club said it is "extremely disappointed" with the verdict but welcomed the decision not to impose the penalty this term, which would have resulted in relegation to League One.

Wednesday finished the league in 16th place, eight points clear of the drop zone, and were the deduction to have been brought in this season, they would have dropped to bottom of the table.

Wednesday say they will now weigh up their options before deciding upon whether to appeal.

“An independent Disciplinary Commission, appointed under EFL Regulations, has ruled that Sheffield Wednesday will receive a 12-point deduction for breaching the league’s Profitability and Sustainability rules for the three season reporting period ending with Season 2017/18.

“The sporting sanction will take effect in season 2020/21.

“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.”

However, Wednesday were found not guilty of breaching its duty of utmost good faith to the EFL by deliberately concealing information.

"Sheffield Wednesday acknowledges the decision of the independent disciplinary commission announced today," read a club statement.

"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.

"The club welcomes the decision that the commission cleared Sheffield Wednesday of the charge of acting in bad faith in its dealings with the EFL. Further, the commission decided not to apply a 12-point deduction this season, thereby imposing relegation."

Wigan Athletic saw their 12-point deduction for going in to administration factored in this season, and therefore dropped from 13th to 23rd.

That decision saw Barnsley escape relegation on a dramatic final day. The Latics have appealed the decision, and had their case at an EFL commission meeting today.