Rotherham have confirmed they will enter Administration after investment talks failed.
They will slip down to 11th place as a result of the minimum 10 point penalty, and will be six points short of the new seventh place club Chesterfield with just eight games left to play.
The extent of the Millers' debts are currently unclear, although the taxman is believed to have been pressuring the club over an immediate six figure debt. Gate turnover is heading for a drop of £200,000 on last season, and the club pay an exorbitant rent on the ground to the previous owner.
One factor in their second Administration period in 18 months is likely to be the low amount paid to creditors last time, when just 1p in the Pound was paid to clear £3.7million in debts.
Top of League Two:
1 Milton Keynes Dons 37 38 78
2 Peterborough 38 35 78
3 Hereford 37 25 73
4 Darlington 37 31 72
5 Stockport 37 14 65
6 Wycombe 38 11 63
7 Chesterfield 38 14 57
8 Rochdale 35 10 56
9 Morecambe 37 -4 53
10 Grimsby 38 -1 52
11 Rotherham 38 8 51
Meanwhile the first bidder for the Millers has come forward. Former Carlisle manager Roddy Collins, brother of former boxer Steve, and Irish builder Anthony McMullen have acknowledged talks with the Millers as well as Bournemouth and Gretna.