Reading are the second team to be deducted points this season and have been docked six for breaching financial fair play rules.
The Royals initially sat seven points ahead of Posh, however the point deduction means they are now only a point above them and could find themselves battling relegation.
This comes after Derby County suffered the a similar punishment – a nine point deduction for breaching financial fair play rules, as well as the 12 points they were docked for entering administration earlier in the season.
Here are the best of today's rumours...
1. Besiktas eyeing move for Sheffield United forward
Besiktas are reportedly interested in signing Sheffield United striker Lys Mousset in January. The 25-year-old's contraxt expires in the summer and the Turkish club want him on the cheap. (TEAMtalk) Photo: George Wood
2. Nottingham Forest linked with Tottenham Hotspur midfielder
Nottingham Forest could make a move for Tottenham Hotspur midfielder Jamie Bowden, who is currently on loan at Oldham Athletic. The 20-year-old has made 15 appearances this season. (The 72) Photo: Paul Harding
3. Rams' captain could leave for free in January
Derby County are reportedly considering allowing captain Tom Lawrence to leave on a free in January as they preprae for life in League One. The Rams have been deducted 21 points in the Championship and currently sit 18 points from safety. (Daily Mail) Photo: Ashley Allen
4. Cardiff City reject Premier League six-figure bid for teen
Cardiff City reportedly rejected a six-figure bid from Leeds United for 17-year-old Cian Ashford in the summer. The Whites are among a host of clubs that could attempt to sign the teenager in the near future. (WalesOnline) Photo: Dan Mullan