Championship leaders Burnley have informed fans that they have been placed under an immediate transfer embargo by the EFL.
In a statement on their official website, the Clarets confirmed the news, saying: "We would like to share with our supporters the disappointing news that the EFL are placing the club under an immediate transfer embargo.
"We believe transparency in these matters is paramount and we want to explain why this has happened.
"In our continued efforts to improve and move forward Burnley Football Club we made the decision to change our auditors in November and the transition has taken longer than we anticipated.
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"We can confirm that we have provided draft accounts and financial information to the EFL’s Club Financial Reporting Unit and we continue to have regular dialogue with the unit to ensure we remain as open and as transparent and answer any questions the League may have."
The statement added: "We believe the EFL will have no issue with the detail of our accounts other than their late submission and fully understand and support their position and efforts to sanction any club who fails to comply with any of their regulations.
"Both the Club and our new auditors are confident this can be resolved swiftly and we hope our submission will be made next month at which point the embargo will be lifted.
"We once again wish to assure supporters this will have no detriment to the ongoing success and development of the Club as we move forward."
As mentioned above, Vincent Kompany's side are hopeful that the embargo is lifted soon.
The news, meanwhile, could impact Burnley's attempt to try and sign Southampton loanee Nathan Tella, who has been in superb form for the Championship high-flyers this season.
Tella has scored 16 goals in 38 games for Burnley in all competitions as the Clarets sit 13 points ahead of second-place Sheffield United in the league table.
Thoughts on the transfer embargo?
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Topics: Burnley, EFL Championship, Vincent Kompany
Jack Kenmare