Scunthorpe United can confirm that it was an applicant and recipient of an EFL Monitored Loan that was available to League One and League Two clubs earlier this year.
One of the general principles of the loan was that it would not be available to Clubs to fund player transfer fees and player wages.
As a result all Clubs accepting the loan are subject to an embargo that allows them to have a squad size and playing budget in line with agreed limits that enable that club to fulfil its fixtures.
The specific limits placed on Scunthorpe United by this embargo are within the parameters already set internally for the 2021/22 season in terms of squad size and budget.