Milan were cited by Uefa for failing to meet their âbreak-evenâ requirements which prevent teams losing more than ÂŁ15m per season over a three year period.
The Serie A giants, now owned by Chinese billionaire Li Yonghong, have been losing tens of millions per year.
Uefa referred the case to its Club Financial Control Body last month with a recommendation of serious punishment.
And while Milan attempted to convince Uefa officials that the club is financially stable, their pleas went unheard.
)
)
)
Instead, Uefa have announced: âThe club is excluded from participating in the next UEFA club competition for which it would otherwise qualify in the next two seasons."
Credit: TheSun