Italian Serie side AC Milan have been banned from next season’s Europa League over breaching of Financial Fair Play (FFP) rules.
There was an agreement between European football ruling body UEFA and Milan over the violation its Financial Fair Plar (FFP), which the Court of Arbitration for Sports (CAS) has upheld, hence the use of the word ‘excluded’ by a CAS statement.
The agreement accords AC Milan more time to balance their books in order to meet the conditions of Financial Fair Play.
AS Roma are likely to come in as the third italian team in the Europa League group stage, and Torino replacing them in qualifying series.
A Court of Arbitration for Sport (CAS) statement reads: “The Court of Arbitration for Sport (CAS) has issued a Consent Award embodying the agreement reached between AC Milan S.p.A and the Union of European Football Associations (UEFA) concerning breaches of the UEFA Financial Fair Play Regulations by the Italian club.
“i. The Decision rendered by the Adjudicatory Chamber of the UEFA Club Financial Control Body in the case AC-05/2018 on 20 November 2018 (i.e. decision under appeal in the CAS 2018/A/6083 matter) is set aside.
“ii. The Decision rendered by the Investigatory Chamber of the UEFA Club Financial Control Body on 10 April 2019 (i.e. decision under appeal in the CAS 2018/A/6261 matter) is set aside.
“iii. The decisions referred to under item i) and ii) above are replaced by the following order: “AC Milan is excluded from participating in the UEFA Club Competitions of the sporting season 2019/2020 as a consequence of the breach of its FFP break-even obligations during the 2015/2016/2017 and the 2016/2017/2018 monitoring periods”.
“iv. The Adjudicatory Chamber of the UEFA Club Financial Control Body is invited to issue a Procedural Order, acknowledging the outcome of the present arbitration(s) and terminating the AC-01/2019 proceedings relating to the 2016/2017/2018 monitoring period, which have become moot.
“v. The costs of the proceedings CAS 2018/A/6083 and CAS 2019/A/6261 shall be borne by AC Milan.
“vi. Each Party shall bear its own costs.
“vii. The CAS Award shall be made public.”4 Secrets To Becoming Rich – How To Get Rich From Nothing: This ebook is a must read for anyone serious about exiting the rate race.... Copyright © 2020 Completesports.com All rights reserved. The information contained in Completesports.com may not be published, broadcast, rewritten, or redistributed without the prior written authority of Completesports.com.