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The UEFA Club Financial Control Survey Chamber (CFCB) announced on Wednesday the suspension of Milan from European competitions for two years. According to the entity, the Italian team has not complied with the rules of Fair Play Financial and, therefore, will not be able to participate in the Europa League next season.
Under the decision of the governing body of European football, Milan may appeal the decision to the Court of Arbitration for Sport (CAS). Prior to announcing this sanction, UEFA had already rejected a voluntary agreement with the club last year.
The place in the Europa League was won by the Milan team with the sixth place of the Championship of Italy last season. Now, Atalanta, who finished seventh in the tournament, will have the place, and Fiorentina will play in the preliminary stages to try to secure themselves in the European tournament.
"The club is banned from participating in the next European competitions organized by UEFA to qualify in the next two years (seasons 2018/2019 and 2019/2010)," said Wednesday's statement released by UEFA .
Milan was bought by a Chinese investment group in April 2017 for more than $ 2 billion, which deprived former Italian president and former Milan president Silvio Berlusconi of the club's power. Yonghong Li, owner of the Rossoneri Sport Investment Lux holding company, took command of the club and invested heavily in the reinforcements. The origin of the Chinese investor's money caused suspicion to Uefa and the group even had to get rid of some companies.
The Italian club has spent more than 200 million euros (about 893 million dollars) on hires last year. Despite the big investment, the traditional Italian team did not win any titles last season and still could not prove to UEFA that its expenses were in line with the financial rules set by the European entity.
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