AC Milan have been banned from European competition for one year.
The Italian club got a sanction for failing to meet Financial Fair Play regulations in the three year periods between 2014-17 and 2015-18.
They struck a deal with the governing body for just one year for overspending, and the Court of Arbitration for Sport ruled saying the five-time European champions would be “excluded from participating in the UEFA club competitions of the sporting season 2019/2020” for not meeting their "break-even obligations”.
The sanction now means that AS Roma, who ended the season in sixth in Serie A, will now take the European spot in the Europa League group stage.
The club issued a statement on their website saying. "The current shareholder took ownership of the Club in July 2018, inheriting substantial accumulated losses after the previous owner of AC Milan defaulted on debt obligations. These losses and the associated violation of FFP rules, as a consequence of actions taken under previous ownership, led to sanctions by UEFA.
"Whilst saddened by the fact that our fans will not be able to see their team compete in European competition next season, the Club recognises and respects FFP. The Club acknowledges it has no other choice but to accept the sanctions, as it seeks to forge a pathway back to full compliance.
"AC Milan remains committed to restoring the Club to its rightful place at the top of European football. Today's ruling will act as a stimulus to maximize the efforts to become fully compliant with FFP, while at the same time consolidating the competitiveness of the Club, and returning AC Milan to sustainability and a more positive future."
The ruling comes during a time of transition for the Milan club as they and Internazionale announced plans to demolish the iconic San Siro.
AC Milan's chairman Paolo Scaroni said, “Everything is proceeding. We will build a new San Siro next to the old one on the same area of land.
“The old one will be knocked down and, in its place, there will be new constructions.”
Last month, legendary midfielder Gennaro Gattuso left his role as Head Coach with the Rossoneri with immediate effect, after failing to secure the club a place in the Champions League.
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