Speaking at a press conference after the Newcastle Jets game, Muscat comfirmed that he would not be stepping down, nor will the club force Muscat to do so.

Muscat said: “I accept and apologise for my actions. I have clearly done the wrong thing and accept the sanction that has been handed down by FFA.

“I am Captain of our club and realise I have a responsibility to the club, my teammates and our fans. I apologise profusely and can assure you all that I have seen the error of my ways. It was a momentary lapse, and a clear error in judgment.”

Muscat has been charged for breaching the Code of Conduct by placing a bet on a Hyundai A-League game, not involving Melbourne Victory. He placed one bet in the amount of $100.

Team mate Grant Brebner has been charged under the Code of Conduct for betting on a Hyundai A-League game, not involving Melbourne Victory. The bets amounted to $399.47. He also breached the Code of Conduct by betting on the match played between Victory and Chonburi FC on March 19 this year. It must be stressed that Grant did not participate in this game played in Thailand, as he was ruled out of the AFC Champions League campaign. He made bets on the number of goals to be scored, to win a total of $540, and an additional bet to the value of $2.48 was made on a draw or Chonburi win.

Brebner said: "I apologise to my club, teammates, our fans, my family and FFA for my actions. I want to make sure everyone is aware that I haven’t involved anyone else. I understand and accept the consequences that come with my actions.”

Victory CEO Geoff Miles said: “We are very disappointed at the actions of Kevin and Grant in breaching the FFA Code of Conduct. We accept the action that has been taken by the FFA and the sanctions that have been enforced. We believe that the penalties applied are significant and appropriate.

“Both players are very remorseful and regretful for their actions. While the club is disappointed, we will support our players 100 per cent through this situation. Kevin is an outstanding leader of our club, however in this situation he has made an error, which he realises was totally unacceptable.

“In Grant’s case, it has been well documented that he has had an ongoing issue with gambling. The club has always supported Grant in addressing this issue, and it is unfortunate that this breach of the Code of Conduct has occurred.

“Grant is very apologetic for his actions and realises that he’s made a very serious error.”