Stuart McCall has accepted the blame over the brawl with Bradford City team-mate Andy Myers which has cost both players two weeks' wages.
Chairman Geoffrey Richmond dished out the maximum club fine for "gross misconduct" after a meeting yesterday with boss Jim Jefferies who had earlier claimed that no internal action would take place.
The players clashed midway through Sunday's 6-1 thrashing at Leeds and after a furious exchange, McCall was left nursing a deep cut just below his left eye.
McCall admitted he was responsible and said: "It was down to pure frustration.
"Myers has been excellent for us in the last couple of months and was as annoyed as anyone at conceding five goals. Although we had a difference of opinion I was to blame for the incident between us.
"It was just a split second of madness but it was all sorted out just as fast. We even sat together on the bus going home.
"We're both big enough not to hold grudges and things were sorted out between us at half-time. We're all hurting at the moment but I honestly believe at this time next season we will be celebrating."
Referee Andy D'Urso didn't appear to see what happened and, after talking to the linesman who also missed the incident, he decided to take no action.
However, it is understood the Billericay official will be including it in his report. That means there could be action against the players by the FA - although there is no video evidence.
An FA spokesman said: "We will wait for the referee's report and then we will look at the situation and take appropriate action.
"It is too early to say what will happen. We always wait until we see what the referee says in his report."
Richmond, who described the fight as his most embarrassing moment in football, said: "It was totally unacceptable and not something I want to see from senior players at the club.
"I thought it was humiliating and very unsavoury indeed.
"The club have taken disciplinary action which makes a statement that this sort of thing will not be tolerated."
The players will now be hoping that the FA decide that the heavy punishment inflicted by the club is deemed sufficient.
Midfielder Lee Sharpe was meeting Portsmouth manager Graham Rix today to discuss personal terms after the clubs agreed a £500,000 fee.
Sharpe played 15 times during his three months on loan at the First Division club and now they are offering him a three-year contract.
Sharpe, who joined City from Leeds two years ago, has another year of his contract left at Valley Parade but no longer features in their plans.
City were back in training today as they prepared for the final game of the season at relegation partners Coventry on Saturday.
Centre-half Robert Molenaar is hoping to be fit to return after missing the demolition at his old club with a groin injury.
But City are still unsure about goalkeeper Gary Walsh whose knee problem flared during Sunday's warm-up.
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