Wycombe Wanderers have been fined £10,000 and warned as to their future conduct after they admitted breaching FA regulations during the sale of Matt Phillips to Blackpool in the summer of 2010.
The Chairboys have accepted the charge and will not be appealing but they have explained that the deal took place under previous ownership.
A club statement read: " During Wycombe Wanderers Trust's period of due diligence of the club during its acquisition in 2012, they were assured there would be no outstanding liabilities in respect of this, or any other, transaction carried out by the previous management. We now understand this not to be the case.
"The Football Club has cooperated in full with the FA, acting in good faith and bringing the matter to the attention of the authorities once the irregularities were discovered in September 2013. At no point before, during or after the investigation has the club attempted to deceive or conceal information from the FA.
"Whilst the charge is related to the time of the previous owner, and that the £10,000 fine is a direct result of the action of those previously associated with the club, Wycombe Wanderers and Wycombe Wanderers Trust accept the charge and will not be making an appeal."
Football agent Phil Smith had his licence suspended with immediate effect for two years, 18 months of which has been suspended for two years, for his involvement in the deal.