Nottingham Forest have lodged an appeal against a four-point deduction in relation to their breach of the Premier League’s Profit & Sustainability Rules (PSR), the club said on Monday.

Forest were plunged into the relegation zone last week after having four points deducted for breaking financial rules in the 2022-23 season, leaving them in 18th place on 21 points, one point below the safety zone.

Forest said last week they were extremely disappointed with the decision and had seven days to appeal.

European champions in 1979 and 1980, Forest had admitted to breaching the threshold of £61m ($77.07m) by £34.5m, according to the Premier League.

England’s top flight clubs are allowed to lose £105m over three seasons. However, two years of Forest’s assessment period were spent in the second-tier Championship, meaning they could lose only a maximum of £61m.

The club, owned by Greek businessman Evangelos Marinakis, went on a spending spree after they gained promotion to the Premier League in May 2022. They broke the record for most transfers by a Premier League club in the close-season window with 21 signings.