AC Milan have been banned from European football for one year.
In a huge blow to the seven-time European Cup winners, the San Siro side were hit by Uefa over persistent breaches of Financial Fair Play rules.
AC Milan have been kicked out of Europe for the next two season by governing body Uefa
Milan were cited by Uefa for failing to meet their “break-even” requirements which prevent teams losing more than £15m per season over a three year period.
The Serie A giants, now owned by Chinese billionaire Li Yonghong, have been losing tens of millions per year.
Uefa referred the case to its Club Financial Control Body last month with a recommendation of serious punishment.
And while Milan attempted to convince Uefa officials that the club is financially stable, their pleas went unheard.
Instead, Uefa have announced: “The club is excluded from participating in the next UEFA clu competition for which it would otherwise qualify in the next two seasons.”
From the Sun