CHERRIES look set to be hit with a hefty fine after falling foul of the Football League’s financial fair play rules.

The Dorset club will have to pay for pushing the boat out in pursuit of promotion to the Premier League last season.

An initial analysis of financial submissions from clubs in the Championship in 2014-15 has resulted in Cherries, Fulham and Nottingham Forest facing sanctions.

According to a statement on the Football League website, all three clubs exceeded the maximum permitted deviation of £6million.

And as Cherries’ failure to stay within the allowance ultimately resulted in promotion, they are in line to receive a financial penalty.

Fulham and Nottingham Forest will be subject to a transfer embargo for the rest of the season, although Millwall – who also exceeded the allowance – will not be punished as they were relegated to League One.

Details of the amount Cherries are likely to be fined have not been published but will be determined by how much they went over the threshold.

The scale is:

  • 1% of the excess amount between £1 and £100,000.
  • 20% of the excess amount between £100,001 and £500,000.
  • 40% of the excess amount between £500,001 and £1m.
  • 60% of the excess amount between £1,000,001 and £5m.
  • 80% of the excess amount between £5,000,001 and £10m.
  • 100% of any excess over £10m.

Next season will see the introduction of a new set of profitability and sustainability regulations that will deliver a consistent approach to financial fair play for clubs which move between the Premier League and Championship through promotion and relegation.

Cherries chairman Jeff Mostyn attended a meeting of Championship clubs in November 2014 when they voted to change the rules as part of wide-ranging negotiations with the top-flight about future solidarity payments that contractually link the finances of the Football League and Premier League.

The £13m limit for the 2015-16 season is in line with the losses permitted under the new regulations which will permit a maximum loss of £39m over a rolling three-season timeframe (compared to an equivalent figure of £105m in the Premier League).

A club that moves between the Premier League and Championship will be assessed in accordance with the permitted loss in the relevant divisions played in during the three-year period.

Cherries have issued the following statement: "AFC Bournemouth is fully aware of the Football League’s proposed financial sanction relating to financial fair play and is currently engaged in positive dialogue with the Football League to reach a satisfactory outcome. 

"The club will update supporters when an outcome has been reached and will not be making any further comment at this moment in time."