THREE Championship clubs have been placed under transfer embargoes for the remainder of the season.
Leeds United, Blackburn Rovers and Nottingham Forest failed to comply with Financial Fair Play rules for 2013-14, exceeding permitted losses of £8million.
The Football League "is currently in discussions with a number of other clubs over their FFP submissions" but Millwall are understood to be in the clear.
However, the Lions could be embargoed this time next year, when their financial results for the current campaign will be scrutinised.
The FFP threshold will drop from £8m to £6m, putting Millwall at risk.
Next January will be the last time clubs are tested by the existing rules, so if the Lions are punished their ban will be a one-off.
Championship clubs have voted to dramatically increase allowable losses to £13m moving forward.
In any case, the terms of the Football League's embargo are very lenient.
Leeds, Blackburn and Forest are allowed to maintain 24-man squads, with U21 players not included in that quota. Leeds, for example, have 20 established players.
And while they cannot pay out a transfer fee, the banned clubs can spend £11,500-a-week in wages on a free agent or loan signing.
The trio can also operate a one-in-one-out policy, providing the cost of the incoming player is no more than 75 percent of the departing player.
Blackburn managing director, Derck Shaw, said: "Whilst the ruling will clearly present some difficulties, we will of course respect the rules of the Football League.
"A lot of effort and hard work has been done to reduce player costs over the last two years.
"But we have wanted to rebuild and challenge in this division at the same time, and we will continue to do that."
Forest manager Stuart Pearce believes he will be able to work around the restrictions placed upon him during the forthcoming January transfer window.
He said: "If you cannot go out and buy a player in the transfer market that is always a little bit hurtful.
"But the flip side is that if you have to be cute in the transfer market and get Bosmans and free transfers. We feel we have the scouting network that can cope with that.
"As a football supporter I would not want my club to go bust because of overspending.
"If the League are putting plans in place to safeguard then long-term future of football clubs then fine; I have no problem with that."