WANDERERS have been given a formal reprimand by the Football League over allegations the club breached third party influence over players – but have escaped a points deduction or fine.

The Chairboys were reported to the football authorities by Bristol Rovers at the end of last season over allegations they had breached league regulations and gained an unfair advantage in doing so.

It related to the 2010 transfer of Matt Phillips to Blackpool, which Rovers claiming Wanderers gained an unjust financial advantage.

During the course of the investigation by the Football League Wanderers admitted to a failure to disclose information about Phillips’ transfer – but the authorities said the arrangement would have been given the green light had they been aware of it.

Wanderers have therefore avoided any punitive measure, after Rovers – who were relegated instead of Wanderers on a dramatic final day of last season – claimed Blues should have been docked points.

The saga has dragged on for nearly five months and news of the investigation being concluded lifts an unwelcome cloud hanging over Adams Park.

In a statement the Football 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 Wanderers chairman Andrew Howard said: “We are pleased that the matter concerning Bristol Rovers’ complaint to The Football League has now been resolved. Whilst we acknowledge that certain documents were not made available to the League at the correct time, for which we have accepted a reprimand, it is important to stress that the actions taken by the club would have ultimately been approved and therefore we were not guilty of the accusations made against us.

“We look forward to moving on from this matter and continuing to build on a great start to this season in Sky Bet League Two.”

Wanderers can go top of the table if they beat Northampton Town at Adams Park this afternoon, after current leaders Burton Albion were beaten by Cambridge United last night.

See the Bucks Free Press website on the final whistle for a report on today’s match.