Derby County Football Club has been hit with a 12-point deduction by the English Football League after announcing it had gone into administration.
The points deduction means that Wayne Rooney's Rams drop to the bottom of the Championship table, on minus two points.
In a statement, Trevor Birch, the EFL Chief Executive, said: “I appreciate that this is a challenging and concerning period for everyone associated with the Club, particularly the staff and supporters, and it is our intention to work proactively with the Administrators and all relevant parties with the objective of securing a long-term and viable future for Derby County. We will endeavour to provide timely and relevant updates as appropriate and as and when events unfold over the coming weeks.”
The Championship club had announced they may to call in administrators on Friday.
It comes as owner Mel Morris said the Covid-19 pandemic has had a severe impact on the revenues and profits of all of its businesses, having taken a cash flow hit of more than £20 million, and that the club has been unable to service its day-to-day financial obligations.
The 137-year-old club, currently managed by former England captain Wayne Rooney, was one of 12 founder members of the Football League in 1888, and last played in the top-flight in 2008.
Directors at business advisory firm Quantuma have been appointed joint administrators of the club.
Andrew Hosking, Quantuma managing director and joint administrator, said: "I can confirm that Andrew Andronikou, Carl Jackson and I were appointed joint administrators of Derby County Football Club today.
"Covid-19 has had a significant impact on the finances of the club and its long-term ability to continue in its current form.
"We recognise that with the commencement of the 2021/22 season last month, this news will be of concern to stakeholders and fans, in addition to the city of Derby and the wider football community.
"We are in the early stages of assessing the options available to the club and would invite any interested parties to come forward.
"Our immediate objectives are to ensure the club completes all its fixtures in the Championship this season and finding interested parties to safeguard the club and its employees."