The AFL sent a memo to all clubs on June 4 reminding them metal studs were illegal during games.
The league revealed Adelaide had received warnings and a please explain letter even before that memo.
Nevertheless, Keays and Rachele ignored the warnings and continued to wear metal studs.
The AFL said Keays elected to wear metal studs on four more occasions and Rachele twice more since Adelaide's initial warning.
Along with the club financial sanction, Keays has been slapped with a $5000 fine, while Rachele must pay $2500.
"Player health and safety is paramount to the AFL and the wearing of metal stops poses a significant injury risk to other players," the AFL's football operations manager Laura Kane said in a statement."Disappointedly, despite multiple warnings, the players elected to wear the incorrect football boots."The $7500 club fine will not be included in Adelaide's soft cap.
The announcement capped a bad few days for Rachele, who injured his left knee during last week's win over Melbourne.
Rachele had surgery on Tuesday to repair a tear in his posterior capsular and it's unknown if he'll be able to return this year.
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