Southampton have expressed their disappointment that their Spygate appeal has been dismissed and reasserted their belief that the punishment is disproportionate to their indiscretion. Saints will not be participating in the Championship play-off final this weekend, with a final decision made by an independent commission after charges of spying were brought by the EFL.

The club have also been handed a four-point deduction for next season's Championship, after they admitted breaching EFL rules by spying on opposition teams. That included Middlesbrough after a Southampton employee was caught in the act ahead of their semi-final meeting.

The south coast club have conceded that they must rebuild trust with a number of stakeholders but the frustration in their statement was also clear. Middlesbrough take their place against Hull City at Wembley on Saturday.

"Southampton Football Club has this evening been informed that the EFL's League Arbitration Panel has upheld the sanctions imposed earlier this week," a statement read. "As a result, the club will not participate in Saturday's Championship Play-Off Final.

"This is an extremely disappointing outcome for everybody connected with Southampton Football Club. We know how painful this moment will be for our supporters, players, staff, commercial partners and the wider community who have given so much backing to the team throughout the season and we apologise once again to everyone impacted by this.

"While we fully acknowledge the seriousness of this matter and the scrutiny that has followed, the club has consistently believed the original sporting sanction was disproportionate, a view that has been widely shared by many in the football community over the last 24 hours.

"We would like to place on record our sincere thanks to our supporters for the support, patience and loyalty they have shown throughout an incredibly difficult period. We will share information as soon as possible in relation to ticket refunds for those who bought tickets to Wembley.

"Southampton Football Club has a proud history and strong foundations, but it is clear that trust now needs to be rebuilt. That work begins immediately. The club will reflect carefully on the events that have led to this point, learn from them and take the necessary steps to move forward responsibly.

"While tonight is a painful moment, this football club will respond with humility, accountability and determination to put things right."

Southampton submitted their appeal following Tuesday's decision by the Independent Disciplinary Commission but having seen it rejected, now have no further recourse. As per EFL Regulations, the decision of the League Arbitration Panel is final and cannot be appealed.

The Saints recruited the help of Lord Pannick KC, the leading lawyer in Manchester City's legal battle with the Premier League, but it has proven to be of no avail. He joined Stephen Sampson of Squire Patton Boggs and Kate Gallafent KC of Blackstone Chambers to help the Saints' cause on Wednesday evening.

Earlier in the day, Hull City owner Acun Ilicali suggested he'd received legal advice suggesting the Tigers should now be promoted automatically. The play-off finalists are preparing to face Boro, however.

"Under normal circumstances, two teams have reached the final and one has been disqualified," he said. "Our lawyers' opinion is that we should go directly to the Premier League, but they're examining it right now. We can't say anything definitive. It's a bit of a messy situation."