The EFL says it is currently reviewing the High Court judgement in the case between Blackpool's owners, the Oyston family, and Valeri Belokon.
It comes after the Oystons were ordered to pay the club’s estranged president Valeri Belokon £31.27m after losing a bitter High Court battle on Monday.
Fans have now turned their focus to the English Football League (EFL), the body that governs competition in this country and is responsible for administering and regulating 72 professional clubs.
Blackpool fans attempted to get the hashtag #BanTheOystons trending on Twitter on Monday night to try and force the EFL into acting.
They are calling for Belokon’s suspension to be lifted and for the EFL to begin proceedings against the Oystons.
The EFL say they are currently reviewing the decision and say a report will be provided to the board ahead of its next meeting, which takes place later this month.
It comes after Belokon was suspended from Blackpool’s board earlier this year having failed the EFL’s Owners’ and Directors’ Test.
The ban means Mr Belokon cannot hold any high profile role at an English league club, despite him still holding the title of Club President at Blackpool.
However that disqualification came about as a result of a criminal conviction and 20-year jail sentence that is highly disputed by Belokon’s representatives, who claim it was handed down by a “kangaroo court” in Kyrgyzstan and is not recognised in Latvia, nor the European Union.
The FA, meanwhile, declined to comment.