James Collins has been fined the maximum allowable two weeks' wages following his conduct at the Cheltenham Festival yesterday afternoon.
Along with MK Dons midfielder Samir Carruthers, 25-year-old Collins was pictured urinating into a glass and then tipping the contents over the side of a private balcony at the famous race meeting.
It was announced earlier today that Carruthers had been financially punished by his club and now Northampton Town, where Collins is on loan from Shrewsbury Town, have taken a similar decision.
The striker has also released a statement on the club's official website, which read: "I cannot apologise enough for my actions and the pictures from my visit to Cheltenham Races yesterday. I have completely let myself, my family, the fans, and the two clubs that I represent down and I am sorry to everyone involved.
"My actions are not excusable and whilst the pictures are rather misleading in that there were not people below this balcony and it was only a grassed area there is still no defence to what happened.
"As a footballer I understand and appreciate that we are role models and this has only emphasised the negative stereotype of the modern footballer and for that I am truly sorry and disappointed in myself. It is now something that I will work hard to change.
"I do feel this is totally out of character and something that has embarrassed me and my family and I fully accept the club's punishment. I will now focus on what I know I am extremely lucky to do for a career and that is to play football."
Collins has scored six goals in 11 outings for the Cobblers.
