AC Milan will not be able to take part in European competition for one season after being served a ban by UEFA for failing to complay with Financial Fair Play regulations, European football's governing body announced in a statment on their official web site this afternoon.
Milan able to appeal UEFA ban
The Italian club was judged to have contravened the break-even compliant, which forbids clubs from spending more in one season than the income earned from the previous season. The decision however, can be contested if Milan decide to appeal and take the case to the Court of Arbitration for Sport.
Europa League place goes to Atalanta
Milan had directly qualified for the group stage of next season's Europa League, but following the UEFA ban, their place in the group will be taken by Atalanta, while Fiorentina will enter the tournament at the qualifying round stage, which Atalanta was due to play.