Sheffield Wednesday owner Dejphon Chansiri is one of three people at the club facing EFL misconduct charges.
As initially revealed by the Daily Telegraph, and now confirmed to Sky Sports News, the charges against Chansiri and two Wednesday staff members relate to breaches of the league's financial rules.
The EFL said last month it had registered a number of charges against the Sky Bet Championship club following a lengthy investigation into their sale of Hillsborough stadium to Chansiri.
The club responded that it would "vigorously defend" the charges, which relate to how and when the stadium was sold, information not made clear in the club's accounts when they were submitted to the EFL for the 2017/18 season.
The £60m sale enabled Wednesday to post a profit, when otherwise they might have fallen foul of the EFL's Profitability and Sustainability rules - clubs are only allowed to lose a maximum of £39m over any three-year period.
Wednesday's finance director John Redgate and former chief executive Katrien Meire are also understood to have been charged.
No date has yet been set for the independent Disciplinary Commission to hear the charges.
Championship rivals Birmingham City fell foul of EFL Profitability and Sustainability rules last season and were deducted nine points.