LAUSANNE, Switzerland, Jun 28 – AC Milan confirmed on Friday that they have accepted a voluntary ban from European football for next season over breaches of financial fair play rules.

European football’s governing body UEFA had accused the club of violating financial fair play (FFP) regulations over the past three seasons and the Court of Arbitration for Sport (CAS) on Friday ruled in their favour.

“AC Milan is excluded from participating in UEFA club competitions of the sporting season 2019/2020 as a consequence of the breach of its FFP break-even obligations” for the past three seasons, the court ruled.

UEFA initially found the Italian giants, who had qualified for the Europa League next season, guilty in June last year of violating financial rules which broadly limit club expenditure to club income in any given year.

However, CAS referred the matter back to UEFA judging that an European ban was disproportionate.

Ultimately UEFA action against the club was suspended pending the outcome of arbitration, resulting in Friday’s decision following agreement between UEFA, the club and CAS.

The announcement follows the club’s adoption of spending curbs in recent months designed to return its finances to a better state and which saw the departure of coach Gennaro Gattuso.

The Serie A giants, who missed out on a Champions League spot by one point to city rivals Inter, are one of several clubs, including Paris Saint-Germain and Manchester City, to have been investigated for breaching UEFA’s rules, whereby clubs cannot spend more than they generate by their own means.

AC Milan have fallen foul of UEFA’s financial rules since they spent 200 million euros ($225 million) on transfers in the summer of 2017.

The club insist however that their finances should improve under American hedge fund Elliott Management Corporation, who took control last summer when former Chinese owner Li Yonghong defaulted on the loan he had taken to buy the club in 2017 from former Italian prime minister Silvio Berlusconi.

– Act as a stimulus –

AC Milan confirmed their “voluntary acceptance” of the ban for breaches in the three-year periods 2014-2017 and 2015-2018 and said they hoped it would “act as a stimulus” to bring them back to the top.

“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,” the club said in a statement on Friday.

“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 maximise 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 club, which will be coached next season by former Sampdoria boss Marco Giampaolo, won their seventh Champions League title in 2007 and their 18th Serie A crown in 2011.

%thecontent%%avatar%

%author%

%authornetworks%

%authordescription%

%authornetworks%

Comments

%sidebar%","opedarticle":"","sidead1":"ff","sidead2":"dd","sidead3":"","homestory":"

%title%

%game%%date%Read More--","taxonomyitem":"

%title%

%game%%date%Read More------","fixtureitem":"%name1%%score1%VS%score2%%name2%%time%","home":"rn rn rn rn rn rn rn rn 1rn 2rn 3rn 4rn 5rn rn rn rn

‘Jamal’ elected new BAK president

rn rn Boxingrn rn rn Friday, 28th Jun 2019rn rn rn rn Read Articlern rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rnrnrnrn rn rn rn rn rn rn rn rn rn rn rn

More Headlines

rn rn rn rn rn rn rn rn rn rn rn rn

rn AC Milan accept European ban for financial fair play violationsrn

rn rn Footballrn rn rn rn 1 hour ago rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn

rn F1 teams reject plan to revert to 2018 tyresrn

rn rn Motorsrn rn rn rn 5 hours ago rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn

rn Brazil exorcize penalty demons, reach Copa semisrn

rn rn Footballrn rn rn rn 6 hours ago rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn

rn Onana eager to honour rich goalkeeping heritagern

rn rn AFCON 2019rn rn rn rn 6 hours ago rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn

rn Appiah promises end to Cameroon dominance of Ghanarn

rn rn AFCON 2019rn rn rn rn 6 hours ago rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn

rn Folau anti-gay row headed to court as mediation failsrn

rn rn Rugbyrn rn rn rn 8 hours ago rn rn rn rn rn rn rn rnrnrn rn rn

Most Popular

rn rn rn rn rn rn rn rn rn AFCON 2019rn rn rn rn rn Wanyama to treat Stars to dinner in Cairorn rn rn rn rn rn rn rn rn rn rn rn AFCON 2019rn rn rn rn rn Olunga double earns Kenya AFCON hopern rn rn rn rn rn rn rn rn rn rn rn Footballrn rn rn rn rn I didnu2019t recognize my team, says Mignern rn rn rn rn rn rn rn rn rn rn rn AFCON 2019rn rn rn rn rn Joash ruled out of Algeria AFCON openerrn rn rn rn rn rn rn rn rn rn rn rn Athleticsrn rn rn rn rn Soi, Tanui book 10k slots for Africa Gamesrn rn rn rn rn rn rn rn rn rn rn rn Motorsrn rn rn rn rn Stage set for WRC Safari Candidate Eventrn rn rn rn rn rn rn rn rn rn rn rn AFCON 2019rn rn rn rn rn Stars handed Algeria loss in AFCON openerrn rn rn rn rn rn rn rn rn rn rn rn AFCON 2019rn rn rn rn rn KPL trio eager to help Burundi at AFCONrn rn rn rn rn rn rn rn rn rn rn rn Footballrn rn rn rn rn Manyatta, Al-Ahly clash in Chapa Dimba finalrn rn rn rn rn rn rn rn rn rn

All Sports

rn trn rn rn rn rn rn rn rn

AC Milan accept European ban for financial fair play violations

rn rn rn Footballrn rn Friday, 28th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rnrn rn rn rn rn rn

F1 teams reject plan to revert to 2018 tyres

rn rn rn Motorsrn rn Friday, 28th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rnrn rn rn rn rn rn

Brazil exorcize penalty demons, reach Copa semis

rn rn rn Footballrn rn Friday, 28th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rnrn rn rn rn rn rn

Onana eager to honour rich goalkeeping heritage

rn rn rn AFCON 2019rn rn Friday, 28th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rnrn rn rn rn rn rn

Appiah promises end to Cameroon dominance of Ghana

rn rn rn AFCON 2019rn rn Friday, 28th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rn rn

Poll Question

rn rn ntnttnttntt

WILL EGYPT WIN 2019 AFCON AT HOME?

ntt
• YES
ntt
• NO
ntt

View Results

ntnn Loading ...n rn rn rn rn rn rn rn rn rn

Folau anti-gay row headed to court as mediation fails

rn rn rn Rugbyrn rn Friday, 28th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rnrn rn rn rn rn rn

Brazil’s Tite blasts ‘absurd’ state of Copa surface

rn rn rn Footballrn rn Friday, 28th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rnrn rn rn rn rn rn

‘No fear’: England confident of overcoming semi-final curse after beating Norway

rn rn rn Footballrn rn Friday, 28th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rnrn rn rn rn rn rn

Mahrez and Algeria top Mane’s Senegal in heavyweight clash

rn rn rn AFCON 2019rn rn Thursday, 27th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rnrn rn rn rn rn rn

Ferreira smashes course record as Snow settles for T2

rn rn rn Golfrn rn Thursday, 27th Jun 2019rn rn rn rn rn Read Morern rn rn rn rn rn --rn rn rn rn rn rn rn rn Load More Storiesrn rn rn rn rn rn rn rn

Sponsored

rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn rn

Featured

rn rn rn rn rn rn rn rn Capital Sportrn ‘Jamal’ elected new BAK presidentrn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rnrn rn rn rn rn AGENCE FRANCE PRESSErn AC Milan accept European ban for financial fair play violationsrn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rnrn rn rn rn rn Capital Sportrn Wanyama to treat Stars to dinner in Cairorn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rnrn rn rn rn rn AGENCE FRANCE PRESSErn F1 teams reject plan to revert to 2018 tyresrn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rnrn rn rn rn rn AGENCE FRANCE PRESSErn Brazil exorcize penalty demons, reach Copa semisrn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rn rn rn rn rn rn rn rn rn rnrnttt","sidebar":"rn rn rntrn rn t

Most Popular

rn rn t rn t

rn tWanyama to treat Stars to dinner in Cairorn

rn AFCON 2019rn rn Friday, 28th Jun 2019rn rn rn t

rn tOlunga double earns Kenya AFCON hopern

rn AFCON 2019rn rn Friday, 28th Jun 2019rn rn rn t

rn tI didnu2019t recognize my team, says Mignern

rn Footballrn rn Monday, 24th Jun 2019rn rn rn t

rn tJoash ruled out of Algeria AFCON openerrn

rn AFCON 2019rn rn Sunday, 23rd Jun 2019rn rn rn t

rn tSoi, Tanui book 10k slots for Africa Gamesrn

rn Athleticsrn rn Saturday, 22nd Jun 2019rn rn rn t

rn tStage set for WRC Safari Candidate Eventrn

rn Motorsrn rn Wednesday, 26th Jun 2019rn rn rn t

rn tStars handed Algeria loss in AFCON openerrn

rn AFCON 2019rn rn Monday, 24th Jun 2019rn rn rn t

rn tKPL trio eager to help Burundi at AFCONrn

rn AFCON 2019rn rn Friday, 21st Jun 2019rn rn rn t

rn tManyatta, Al-Ahly clash in Chapa Dimba finalrn

rn Footballrn rn Saturday, 22nd Jun 2019rn rn rn rn rn trn rn rnrn rn rn rn t

Featured

rn rn trn rn rn rn rn Capital Sportrn ‘Jamal’ elected new BAK presidentrn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rnrn rn rn rn rn AGENCE FRANCE PRESSErn AC Milan accept European ban for financial fair play violationsrn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rnrn rn rn rn rn Capital Sportrn Wanyama to treat Stars to dinner in Cairorn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rnrn rn rn rn rn AGENCE FRANCE PRESSErn F1 teams reject plan to revert to 2018 tyresrn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rnrn rn rn rn rn AGENCE FRANCE PRESSErn Brazil exorcize penalty demons, reach Copa semisrn rn rn Viewrn rn Friday, 28th Jun 2019rn rn rn rn rn rn rn trn rn rn rn","articleerror":"

Oops...Something broke on our end

"},"messages":{"accessdenied":"Access to the account has been denied ","httperror":"Oops, something went wrong...please try again","contactgoogle":"Contacting Google","firsttime":"Seems this is your first time with this signin system. Please wait as we get your name","signinsuccess":"Cool. You're now signed in. This signin will close automatically now","pendingrequest":"Still communicating with the server","signedout":"Seems you were signed out. Try submitting again after you've been signed in","trackingerror":"Couldn't track Analytics","xhrnotconfigured":"To webmaster: Please confirm the xhr/ajax receptor is configured on the server","loadmore":"Load more stories"}}; /* ]]> */