Barnsley have been charged with five breaches of EFL Regulations by the English Football League.
The Tykes narrowly missed out on promotion to the Championship last season, losing to Sheffield Wednesday in the last minute of extra time during the League One play-off final.
Off-the-field, manager Michael Duff has since joined Swansea City and former Tampa Bay Rowdies boss Neill Collins has arrived at Oakwell.
The charges relate to former directors Paul Conway and Chien Lee, and more specifically their shareholdings.
Releasing a statement, the EFL charges are:
1. Failing to provide the League with correct and/or complete information regarding the beneficial ownership of shares in the Club despite a request for such information being made by the League
2. Failing to provide the League with the necessary notifications regarding the ownership position at the Club
3. Failing to publish accurate information on the Club’s website concerning the ultimate owners of the Significant Interest in the Club
4. Allowing individuals to acquire a position of Control without prior clearance from the EFL
5. Failing to act towards the League with the utmost good faith.
EFL Statement: Barnsley FC#EFL https://t.co/3DJwmBKSr8
— EFL Communications (@EFL_Comms) July 13, 2023
The South Yorkshire club have publicly responded, saying: "The charges announced by the EFL today are the result of an investigation initiated by the club following an internal review into the shareholdings of former directors Paul Conway and Chien Lee.
"After bringing the issue to the attention of the EFL, the club has fully cooperated with the investigation at every stage and will continue to do so, as appropriate.
"The steps taken by the club to instigate and then ensure a thorough investigation into the issue underline Barnsley FC's commitment to compliance with the EFL's regulations.
"The club will await the EFL's sanctioning decision and will comment further in due course."
Reading still have charges against them relating to paying staff late on three separate occasions, while Wigan Athletic will start on minus points due to similar financial issues.
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