Rotherham have been deducted 17 points by the Football League for the start of the new season after failing to exit administration via the necessary Company Voluntary Agreement.
Football League chiefs met in London to decide the Millers' points penalty after they broke league rules during the 2007-08 campaign.
League officials have also given the South Yorkshire club permission to carry on playing their home matches at the Don Valley Stadium in Sheffield provided a £750,000 bond is paid and they guarantee their return to Rotherham within four years.
Failure to do so will result in the bond being lost and Rotherham being thrown out of the Football League.
The Football League released a statement on their website outlining four rules which Rotherham must adhere to.
It read: 'The club will be deducted 17 points for the 2008-09 season. This takes into account the fact that this is the club's second insolvency event in recent seasons.
'The club must provide a legal waiver indicating they will not challenge or appeal this decision.
'The club must undertake to return to Rotherham within four years and provide an irrevocable bond of £750,000.
'This will be forfeited if the club fail to return within that timeframe, as will the club's membership of The Football League.
'The club must pay unsecured creditors the amount offered at the time of the CVA hearing.'
Meanwhile fellow League Two side Bournemouth will learn their own fate tomorrow after the Football League board were 'not yet satisfied' over the viability of their new proposed takeover.