Italian giants AC Milan have been banned from European Football for a period of one season for breaching Financial Fair Play regulations.
After finishing sixth in the Serie A last season, the seven-time champions league winners had qualified for next season’s UEFA Europa League.
According to Europe’s football governing body, UEFA the club spent £200m on transfers last summer following a takeover, hence breaching the rules around requirements for clubs to break even.
It’s important to note that Milan was owned by former Italian Prime Minister Silvio Berlusconi from 1986 until it was sold to a Chinese Consortium for 740m euros (£648m) in April 2017.
The Italian side then went on to bring in Leonardo Bonucci from rivals Juventus for £35.1m and Andre Silva from FC Porto for £33.6m among other players in a summer spending spree of £200m.
Milan have come out to say that they will appeal the decision in the Court of Arbitration for Sport.
On Wednesday the club said: "AC Milan has instructed its legal team to appeal the decision seeking a prompt review of the ruling."