Shamrock Rovers have been docked eight points by the FAI's club licensing committee.
The committee found that the club's 2005 licence had been awarded on the basis of incorrect financial and accounting information – constituting a 'serious breach of the licensing process.'
Rovers now lie at the bottom of the eircom League Premier Division on one-point, despite last night's well-earned 1-1 draw against St Patrick's Athletic at Richmond Park.
However, Rovers seem to have gotten off relatively lightly, considering that enforced relegation to the First Division and expulsion from the league were believed to have been possibilities.
The homeless Dublin club's financial irregularities were exposed when the club went into examinership last month.
Last night, the club's examiner, Neil Hughes, said that the penalty had not deterred potential investors, which are seen as crucial to the club's plans to move into a new ground in Tallaght.
Hughes also indicated that the club would not appeal the decision.
FAI chief executive John Delaney, meanwhile, said in a statement that "the committee’s decision sends a clear message that the club licensing process, which all clubs have signed up to, is a serious one and irregularities in clubs’ applications will result in sanctions."
"All clubs have agreed to comply with the system which is there to ensure clubs reach better standards across all disciplines within each clubs’ structures," he added.
