Uefa have announced that AC Milan have been banned from playing in this season’s Europa League after breaching financial fair play (FFP) restrictions.
The toughest punishment on a breach of FFP has been handed to AC Milan after breaching break even requirements with the club overspending on player transfer fees and wages.
The Italian club spent more than 200m euros last year on new players amid questions over the financial stability of the Chinese-led consortium that bought the club from former Italy president Silvio Berlusconi for $800m in April 2017.
AC Milan signed Leonardo Bonucci for 40m euros in 2017 (Getty Images)
Milan finished just sixth in Serie A and qualified for the Europa League, but will not be able to play in Europe if they fail to overturn the ban by successfully appealing to the Court of Arbitration for Sport.
“The Adjudicatory Chamber of the Club Financial Control Body (CFCB) has taken a decision in the case of the club AC Milan that had been referred to it by the CFCB Chief Investigator for the breach of the Uefa Club Licensing and Financial Fair Play Regulations, in particular the break-even requirement,” said Uefa in a statement.
“The club is excluded from participating in the next Uefa club competition for which it would otherwise qualify in the next two (2) seasons (i.e. one competition in 2018/19 or 2019/20, subject to qualification).
Berlusconi first bought AC Milan in 1986 (Getty)
“This decision may be appealed to the Court of Arbitration for Sport.”
Ahead of the verdict, AC Milan released a video on twitter asking for ‘fairness,’ adding that the club is run in an “upstanding, transparent and responsible way” and claimed they closed the balance sheets with “+€20m revenues,” but adds the club is “ready to pay for the errors made in the past.”
AC Milan were listed by Forbes as the 17th most valuable club, behind AS Roma, Schalke and West Ham.
As it stands Atlanta, who finished seventh, will take AC Milan’s automatic place in the Europa League
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