Former Cardiff City and Leeds United chairman Peter Ridsdale has been banned from holding any company directorships for seven and a half years following an investigation into financial irregularities by the Insolvency Service.
Ridsdale is currently the chairman of Preston North End.
Ridsdale's role as chairman of football at Preston will not be affected and following the verdict he issued his own statement through the club.
The former Leeds and Plymouth chief said: "I can confirm that I have agreed a voluntary undertaking not to act as a company director as a result of ongoing issues with a personal matter which occurred in 2009.
"I am currently undertaking a role of 'Chairman of Football' at Preston North End but am not a director nor at any time have I sought to be one."