Birmingham City have been deducted nine points by the English Football League for breaching profitability and sustainability rules.
The sanction sees Blues drop from 13th to 18th in the Championship, five points above the relegation zone with eight games to play.
The EFL said Blues incurred losses of nearly £48.8m between 2015 and 2018.
That is almost £10m more than the accepted losses of £39m per year over a three-year period.
Both Birmingham City and the EFL have 14 days to appeal against the decision of an Independent Disciplinary Commission, which considered the matter on Monday.