However, Holloway - who went through with his promise to tender his resignation if he was punished - has vowed to fight the fine as he is "incensed".
"I am totally confused as to the rules, who is making them and why I am a football manager and I'm not allowed to manage," he said. "How can they dare say my lads who did play are not good enough - which is basically what they are saying?
"I feel totally offended by it. I actually offered Karl my resignation because I don't understand where I can go. He refused it and said he would deal with it and for it not to stop me trying to do what I am trying to do.
"I am glad he hasn't accepted it but I am very confused and bitter. I feel incensed. Absolutely there will be an appeal and I'd like there to be an amendment to the rules."