AC Milan on Thursday had a UEFA ban exempting the club from participating in any of its organised competitions for one year, lifted by the Court of Arbitration for Sports (CAS)
The punishment came after the club spent £200m on transfers: it barred the Italian giants from participating in the 2018 Europa League which it qualified for by virtue of finishing sixth last season.
UEFA considered the spending as a breach of the Financial Fair Play put in place to curb the extravagant spending of clubs.
Milan had never spent more than £30m on a player since 2002 but the Rossoneris broke that record in the purchase of Leonardo Bonucci from Juventus for £35.1m and Andre Silva from FC Porto for £33.6m.
CAS, however, upheld UEFA’s decision on the club’s spending that it did not break-even and was not ‘properly assessed.” It also acknowledged that the club’s financial situation is now better.
Milan was sold by the former owner, former Italian Prime Minister, Silvio Berlusconi for 740m euros in April 2017.
Since the buy-out, the Chinese owners have pumped in considerable amount of money to get the club back to its glorious path.
The Financial Fair Play restricts clubs from spending much more than they earn, thereby plunging into debts.
Clubs that are found to have defaulted are sanctioned in several ways which include points deduction, ban from UEFA organised events, transfer embargoes etc.
CAS referred the case back to UEFA to “issue a proportionate disciplinary measure”