Burnley slapped with transfer embargo as Championship leaders release statement

BURNLEY have been placed under a transfer embargo by the EFL.

The Clarets released a statement confirming the news in which they explained why the sanction has come about

GettyBurnley have been placed under a transfer embargo by the EFL[/caption]

The club is confident the matter will be resolved swiftly and has been brought about by nothing more than a late submission of their financial accounts.

Burnley say that was due to a change in their auditors last November and they are fully accepting of the embargo.

However they expect it will be lifted next month once the latest financial accounts are submitted.

A club statement reads: “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.

“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.

“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.

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“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.”

Burnley are runaway leaders at the top of the Championship and have one foot in the Premier League given the 17-point gap to thrid place.

Manager Vincent Kompany has transformed the team who are on course to get 100 points.