Bournemouth will pay the EFL £4.75m to settle a breach of financial fair play (FFP) rules when they were in the Championship in 2014/15.
The Cherries were deemed to have breached the EFL’s FFP regulations during the 2014/15 Championship campaign during which they were promoted to the Premier League as champions.
A statement from the EFL said: “The club was deemed to have breached the EFL’s Championship Financial Fair Play Rules (“the Rules”) at the time, but proceedings were stayed pending the outcome of a legal challenge by Queens Park Rangers against those Rules.
“In reaching a settlement, the EFL acknowledges that the club did not make any deliberate attempt to infringe the Rules or to deceive. All relevant matters were taken into account when determining the quantum of the settlement.
“The agreed settlement of £4.75m is in full and final settlement of all and any claims by the EFL against the Club and its officers, in respect of the FFP Regulations for Season 2014/15.”