Rovers had alleged to the league’s administrators that a deal to pass fees from the sale of Matt Philips to former owner Steve Hayes as part of payment of debts, constituted a breach of third-party ownership rules.
However, announcing the result of its investigation earlier in the week, a league spokesman said the arrangement amounted only to a re-organisation of its corporate structure – though it reprimanded Wycombe for not informing the league’s board, a charge to which Wycombe admitted.
A spokesman for the league said: “Having fully investigated the matter, it is our view that the financial transaction in question did not amount to third party investment or influence over players. Instead, it was a re-organisation of Wycombe’s corporate structure that saw the club reduce its debt to its previous owner.
“Nonetheless, League regulations require such agreements to be disclosed and approved by The Football League Board before they are concluded. It is clear that this did not happen, although it is equally clear that the Board would have approved this particular arrangement had it been given the opportunity to consider it.
“Having co-operated fully with the investigation throughout, Wycombe Wanderers have admitted this breach of League regulations. The club has been issued with a reprimand that will remain on file for two years, as well as a warning as to its future conduct.”
Wycombe, who nearly went down last season have been riding high and face fellow promotion hopefuls, Morecambe on Saturday.