Leeds United and the club’s owner Massimo Cellino have each been fined £250,000 for breaching The FA’s Football Agent Regulations.

The charges relate to the transaction involving the transfer of Ross McCormack from Leeds to Fulham on 8 July 2014.

Cellino has been suspended for 18 months from being a director or shadow director of Leeds United or any other football club or company whose activities include ownership of a football club, effective from 1 February 2017.

By 30 April 2017, he is to attend and complete an FA education programme covering the duties and responsibilities of an owner and director of an English football club.

In relation to the same matter, authorised agent Derek Day has been fined £75,000 after admitting to breaches of The FA’s Football Agent Regulations.

Day has also been suspended from all intermediary activity for 18 months, commencing immediately for a seven-month period with the remaining 11 months being suspended for two years and only to come into effect if before 6 December 2018 he commits a further breach of The FA’s Rules and Regulations.

It’s understood the club will contest the sanctions imposed by the Regulatory Commission and intend to issue an appeal in accordance with FA Rules and Regulations.

Written reasons regarding the decision will be held pending the outcome of any appeal.

In a statement on the club’s official website, Cellino said: “I am surprised to read the news regarding the FA’s intentions to ban and fine me, as well as fine the Club. I am not guilty and I will take the right steps to defend myself through the tribunal.

“I feel that I am guilty of one thing, protecting Leeds United since I took charge of the Club. I ask the players, manager and my staff to continue to work with loyalty and professionalism and to keep fighting for the Club everyday on and off the pitch.

“I am sure that the public in this country and the free press will take the time to look into this case and find the truth.”