Italy’s Serie A giants, AC Milan have been banned for failing to comply with the financial fair play regulations of Europe’s football governing body, the Union of European  Football Associations (UEFA).

A statement released by UEFA on the decision on Wednesday explained that the Rossoneri, who had already booked a spot in next year’s Europa League would be excluded from the next club competition they qualify for in either the 2018-19 or 2019-20 campaign.

Although UEFA is expected to expand on its decision on the ban at a later time, Milan can still appeal the decision at the Court of Arbitration for Sport.

The statement read in part: “The club is excluded from participating in the next UEFA club competition for which it would otherwise qualify in the next two (2) seasons (i.e. one competition in 2018/19 or 2019/20, subject to qualification).”

The club’s financial struggles have been a constant talking point since last year, when the club was sold to a Chinese consortium after lengthy negotiations, a deal which was supposed to secure the financial future of the Rossoneri but has only led to more uncertainty.

The Rossoneri splashed the cash on several top players in the summer, including Juventus defender, Leonardo Bonucci, Villarreal’s Mateo Musacchio, Wolfsburg full-back, Ricardo Rodriguez and Porto forward, Andre Silva.

They also sold a number of players, but mostly for minimal fees, with Mattia De Sciglio being the departure with the highest profile.