An official Premier League statement revealed that Forest had breached the relevant PSR threshold of £61million by £34.5m. The rules state that clubs can lose a maximum of £105m over a three-year period, but Forest's threshold was lower because they spent two seasons of that period in the Championship.

The Reds issued a firmly-worded statement in response to the ruling on Monday evening, which read: "Nottingham Forest is extremely disappointed with the decision of the Commission to impose a sanction on the Club of four points, to be applied with immediate effect.

"Notwithstanding our disappointment, we thank the commission for agreeing to deal with this matter on an expedited basis. The club considers it to be essential for the integrity of the league to have charges resolved in the season in which they are issued.

"We were extremely dismayed by the tone and content of the Premier League’s submissions before the commission. After months of engagement with the Premier League, and exceptional cooperation throughout, this was unexpected and has harmed the trust and confidence we had in the Premier League.

"That the Premier League sought a sanction of eight points as a starting point was utterly disproportionate when compared to the nine points that their own rules prescribe for insolvency."

Express Sport have approached the Premier League for comment.

Forest also said they were surprised their defence of extenuating circumstances was not accepted by the Premier League. The club argued that they needed to invest heavily in order to compete in England's top flight following their promotion in 2022, according to The Guardian.

The statement continued: "We were also surprised that the Premier League gave no consideration at all to the unique circumstances of the club and its mitigation.

"In circumstances where this approach is followed by future PSR commissions, it would make it extremely difficult, if not impossible, for newly promoted clubs without parachute payments to compete, thus undermining the integrity and competitiveness of the Premier League.

"Whilst the Premier League may have called into question the club’s business plan, the club maintains that it responsibly balanced compliance with PSR with important investment into the squad to give us the ability to compete in the league for the first time in over 20 years."

Forest sold Brennan Johnson, an academy product of theirs, to Tottenham last summer but the deal was not done until after the PSR deadline which passed at the end of June. They received a lower bid from Brentford earlier in the same window but chose not to accept it.

Regarding the sale of Johnson, Forest added: "Even after the club had missed the PSR reporting deadline, it still took steps to ensure Brennan Johnson was sold before the end of the transfer window. That was a clear demonstration of our respect and support for PSR.

"The commission's decision raises issues of concern for all aspirant clubs. The player transfer market is a highly specialised trading environment that cannot be compared to the sale of normal products and services.

"There will be occasions when a player transfer cannot be completed in the first half of a transfer window and can only be completed at the end of that window. This should not be a reason for the condemnation of a club. For this not to be recognised by the commission or the Premier League should be a matter of extreme concern for all fans of our national game."