The Court of Arbitration for Sport (CAS) has overturned a ban imposed by UEFA on Italian club, AC Milan. The European Football body had ruled earlier that AC Milan will not compete in UEFA competitions for one season.
AC Milan appealed the ban claiming it was too harsh as they had provided evidence that their parent company had zeroed its debts.
AC Milan qualified for the Europa League after finishing sixth in the Serie A but they were found to have breached Financial Fair Play and Licensing Regulations rules.
The court upheld Uefa's verdict that AC Milan did not reach the requirement for the Financial Fair Play break-even but they stated that the ban was too heavy and disproportionate. CAS told UEFA to "issue a proportionate disciplinary measure".
AC Milan spent over £160 million on new signings in April last year after the club was taken over by Rossoneri Sport Investment Lux.