ChampionshipSheffield Wednesday have claimed they will not be placed under a transfer embargo until their dispute with the English Football League is resolved.
The club issued a claim against the EFL after being charged over the sale of Hillsborough to owner Dejphon Chansiri.
The £60m sale helped them post a pre-tax profit of £2.5m in 2017-18.
"The club is proceeding with its arbitration claim against the EFL that the charges issued by the EFL are unlawful," read a statement.
"No step will be taken in the disciplinary case, if at all, until the arbitration is resolved. The club can confirm that it is not under embargo."
An EFL spokesman said the league considered the club's claim "to be entirely without merit" and was "seeking an early determination to enable the disciplinary proceedings to continue".
