Dutch side FC Twente insisted Thursday they will fight any attempts to relegate them to the second division in a dispute over financial irregularities.

The country's football association (KNVB) on Wednesday revoked the club's licence for the Eredivisie championship.

Given the efforts of the club to "put its own house in order", the KNVB are poised to issue a new licence, however that would be limited to the lower-tier Jupiler League.

Twente said they have "identified elements enabling it to contest the proposed definitive revocation of its licence to play in the Eredivisie".

"And that's what we'll do," added a club statement.

Club spokesman Jan Schutrups said: "FC Twente cannot bear the financial consequences of this sanction."

The controversy stems from 2013 when the former FC Twente administration concluded contracts with investment company Doyen Sports which the KNVB said breached transfer market regulations.

In December, Twente were fined 200,000 euros and banned from Europe for three years.

They were also docked three points in the league season.