The Football Association has suspended Leeds United owner Massimo Cellino from all football activities for 18 months and fined the Italian £250,000.
He was charged with breaching the FA's football agent rules over the sale of Ross McCormack to Fulham in 2014.
In addition, the club have also been fined £250,000.
Cellino, whose ban will start on 1 February 2017, has already indicated to the FA that he intends to appeal against the ruling.
The FA said in a statement: "Mr Cellino has been suspended for 18 months from being a director or shadow director of Leeds United or any other football club or company whose activities include ownership of a football club.
"By 30 April 2017, he is to attend and complete an FA education programme covering the duties and responsibilities of an owner and director of an English football club."
The Daily Mail reported on Wednesday that Cellino was set to be banned and fined, prompting him to release a statement on the club's website that he was "surprised to hear about the FA's intentions" and that he was only guilty of "protecting Leeds United".
This is the third time the 60-year-old former Cagliari owner has been given a ban by the FA since taking over the Elland Road club in April 2014.
If the decision is upheld, his suspension means he will not be able to return to his position at Leeds until 1 September 2018.
Meanwhile, agent Derek Day has been fined £75,000 for his role in the transfer of McCormack and banned for 18 months.
Day will serve an immediate seven-month ban, with the remaining 11 months suspended for two years.