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The Financial Controller of UEFA Club House (CFCB) has announced the suspension of European competitions in Milan for two years. According to the entity, the Italian team has not complied with the rules of Fair Play Financial and, with it, can not participate in the Europa League next season.
According to the decision of the governing body of European football, Milan can appeal the decision to the Court of Arbitration for Sport (CAS). Before announcing this sanction, UEFA had already rejected a voluntary agreement with the club during the last year.
The Europa League spot was won by the Milo team with a sixth place finish in the Italian Championship last season. Now, Atalanta, who finished seventh in the tournament, will end up with the vacancy, and Fiorentina will play in the preliminary round to try and secure themselves in the European tournament.
"The club is banned from participating in the next European competitions organized by UEFA to qualify for 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 reais, 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 of Uefa and the group even had to get rid of some companies.
The Italian club has spent more than 200 million euros ($ 893 million) in contracts 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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