Nottingham Forest have reacted angrily to their four-point Premier League deduction for breaking financial rules — claiming the punishment "raises concerns for all aspirant clubs".

Forest have dropped into the relegation zone as a result of today's ruling, one point behind Luton who now occupy 17th in the table.

But the club insist the new profit and sustainability (PSR) rules make it too difficult to compete in the top flight.

A club statement said: "The commission's decision raises issues of concern for all aspirant clubs.

"Where this approach is followed by future PSR commissions, it would make it extremely difficult, if not impossible, for newly-promoted clubs without parachute payments to compete, thus undermining the integrity of the Premier League."

Despite admitting a breach, Forest argued their delayed sale of Brennan Johnson to Tottenham last summer should have been considered in mitigation.

They claimed holding out for more money from Spurs was preferable to completing a sale by the June 30 accounting deadline for their long-term sustainability.

The independent panel cited in their reasons for the verdict that Atletico Madrid made an offer worth around £43million for Johnson on the June 30 deadline, which Forest rejected, before they also turned down a bid from Brentford days later.

Questioning the call not to renegotiate with the Bees in order to minimise the breach, the panel said: "The commission understands all clubs' desire to sell their players for the most they can achieve.

"However, the commission concluded that for Forest, respecting the profit and sustainability regime and looking to make the miss as near as possible was a less important factor compared to maximising value/profit.

"This business decision flies in the face of mitigation."

Forest, who claim the Premier League initially wanted to dock them eight points, disagree.

They said in response: "There will be occasions when a player transfer cannot be completed in the first half of a transfer window. 

"This should not be a reason for the condemnation of a club."

Forest will resume their battle to avoid relegation against Crystal Palace at the City Ground on March 30.