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NO!!!!! It should be far far harsher. Any club that goes into administration has basically been cheating to get into that possition and should be automatically relegated. No ifs, no buts, put them down. And if they're going down anyway (as might have been the case with Leeds) then the punishment should be the relegation they got on the field plus another relegation as punishment.
Clubs (ie Leicester) have got to be stopped from using administration as a soft option.
Course it is. Over spend for years and end up owing 100million (say). Go into administration. Pay off 30million and end up clean to start again.
Clubs that get knackered like this MUST be made to pay very very heavily. Basically, they've got into the position they are in by cheating, should pay for that, and the best way is relegation.
By their cheating other clubs have suffered. Who's to say if Leeds hadn't vastly overspent they might have got relegated last season because they didn't have the players they ended up woth. So some other club thats trying to run itself correctly goes down instead of them and suffers.
There's no ifs or buts, administration should mean relegation (at least).
Mark - the point is that it's not enough. If they end up bottom 3 regardless of the 9 points then they've effectively received no punishment at all for cheating.
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