The Adjudicatory Chamber of the Club Financial Control Body (CFCB) have found out that AC Milan have failed to meet the UEFA's Financial Fair Player regulations and Club Licensicng, where the Serie A club failed to meet the break even requirement.
Thus, the Adjudicatory Chamber of the Club Financial Control Body has decided to ban AC Milan for two years from taking part in the European competition – the Champions League and the Europa League.
AC Milan had qualified for the next season, but due to the UEFA's Adjudicatory Chamber of the Club Financial Control Body, chaired by Jose Narciso da Cunha Rodrigues, decision to ban the Serie A club from European competition means they will only play in the domestic competitions in Italy.
The statement from UEFA also mentions that AC Milan can now appeal to the Court of Arbitration for Sport.
A statement on UEFA's official website read, "The Adjudicatory Chamber of the Club Financial Control Body (CFCB), chaired by José Narciso da Cunha Rodrigues, 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."
"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)."
"This decision may be appealed to the Court of Arbitration for Sport, in accordance with Article 34(2) of the Procedural rules governing the UEFA Club Financial Control Body, as well as Articles 62 and 63 of the UEFA Statutes. The full reasoned decision will be published on UEFA.com in due course," it added.
AC Milan fans will surely be disappointed by UEFA's latest decision.