The FA has issued a plan of action, which includes awareness of unacceptable behaviour, that will take immediate effect and remain in place for the coming season.
"The punishment relates to the 'Chelsea rent boy' chant, which is defined as a homophobic slur and was made a prosecutable offence for anyone found to sing or use the words by the Crown Prosecution Service in January 2022...," the FA said in a statement.
"The Football Association now considers this specific chant to amount to a breach of FA Rules and reserve the right to pursue formal disciplinary action against any club whose supporters engage in such behaviour going forward."
Wolves said they accepted the decision and those identified and found guilty will face lengthy stadium bans.
