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"The club is going to immediately appeal this decision to the CNOSF (French Olympic Committee)," Bastia said in a brief statement on the club's website.
Bastia were condemned to the third tier by French football's financial watchdog on June 22 and had pledged to offload players to balance the club's accounts before the next hearing.
But Bastia failed to overturn the ruling, unlike Corsican rivals Ajaccio who will remain in Ligue 2 after successfully appealing against their relegation for similar financial problems.