Luton are considering an appeal against their 10-point deduction for next season and £50,000 fine, after being found guilty of misconduct.
The Football Association found the club guilty of paying agents via a third party, but not of paying bungs.
The club's soon-to-be new owners said the fine showed the behaviour of their predecessors was unacceptable.
But they said they were disappointed the FA had not considered the change in the club's circumstances and ownership.
"The FA is completely correct to show the football world that the type of behaviour demonstrated by the past management is totally unacceptable," said a statement from the LTFC2020 group.
"We are very disappointed that the FA has not taken into account the current plight of the club "
"We would like to reiterate that these findings related only to past directors of Luton Town FC and not to anyone related to, or part of LTFC2020.
"That decision makes no difference to our commitment to being the next custodians of the club. The plans Mick Harford has for squad regeneration are completely unaffected.
"We are very disappointed the FA has not been able to take into account the current plight of the club and the fact it is soon to be under new ownership.
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"To punish the club and the fans in the future with a points deduction, while the perpetrators get away with just light fines is hugely disappointing.
"The scale of the deduction is unbelievable when it is clear the people found guilty are no longer at the club.
"Who, exactly, does the FA think it is punishing?"
As well as the punishment handed to the club, former chairman Bill Tomlins has been banned from football for five years and fined £15,000.
Former finance director Derek Peter has been banned from football for a year and fined £3,750, while ex-directors Richard Bagehot and John Mitchell have been fined £750 and £250 respectively.
Meanwhile, six licensed players' agents - Andrew Mills, Sky Andrew, Steven Denos, Mike Berry, David Manasseh and Mark Curtis - have been warned as to their future conduct.
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