The National Rugby League confirmed on Saturday that the Parramatta Eels would lose 12 competition points and be fined 1 million Australian dollars ($753,000) for salary cap breaches.
Five Parramatta officials, including chairman Steve Sharp, were also banned as part of the penalties first announced two months ago after the club was handed breach notices.
NRL chief executive Todd Greenberg says "we have to take a strong stand to preserve the integrity of the salary cap and the competition."
The breaches date to the 2013 NRL season.
Parramatta defeated the Sydney Roosters 22-18 in their round 18 match on Friday night, but the Eels now find themselves in 12th place in the NRL standings with 12 competition points. They were in fourth place before the loss of points.