The Football Association has concluded its investigation into possible financial irregularities at St Albans City and found the Conference South club guilty on three counts.

The club has been hit with an immediate ten point deduction, which takes Steve Castle’s side to the foot of Conference South.

The FA has also hit the club with a £7,500 fine, plus costs.

The statement went on to say, ‘In summing up, the Chairman of the Regulatory Commission had serious concerns over the financial irregularities within the Club during the 2008-2009 season. Such irregularities enabled the Club to have an unfair sporting advantage over others within the League, which is simply unacceptable.’ The club was also warned as to its future behaviour.

Prior to the meeting, a small group of supporters stood outside the FA offices at Wembley looking to persuade the commission to take action against the person they hold responsible for the financial irregularities, City chairman John Gibson, rather than the club.

But, other than for warning the club with regard to its future behaviour, no action was taken against the club chairman by the FA.

At present, there is no news of St Albans City launching an appeal.

For manager Steve Castle this is the latest in a series of blows that have seen him overcome a player registration ban during the 2009-10 season, due to an unpaid tax bill, while last December a number of player’s cheques bounced.

Speaking after hearing the FA verdict, Castle said he ‘was gutted but defiant.’