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Nottingham Forest have had their appeal against a four-point deduction rejected, sources have told ESPN.
The Premier League side were hit with a four-point deduction in March after the club were found to have breached Profit and Sustainability Rules (PSR).
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Forest said at the time they were extremely disappointed with the decision and appealed, but an independent commission has dismissed their protest.
That leaves Forest in a relegation battle -- they are on 29 points, three points ahead of 18th-placed Luton. Both clubs have just two games remaining.
Nottingham Forest's appeal against a four-point deduction has been rejected. Photo by Robbie Jay Barratt - AMA/Getty Images
Earlier this season, Everton had their points deduction for breaching Premier League financial rules reduced to six points from 10 after an appeal.
Premier League regulations stipulate that a club can lose no more than £105 million ($133.6m) over a three-year period.
The rules apply differently to Forest, owing to the fact that they were in the second-tier Championship until 2022, where clubs are permitted a maximum loss of £39m ($49.6m) across three seasons or £13m ($16.6m) per season, meaning their permissible losses over the last three campaigns would add up to £61m ($77.7m).
Forest were charged in January for breaching those regulations over the period ending in the 2022-23 season.
Source: espn.co.uk