first_imgFILE – In this Sunday, March 18, 2018 file photo, AC Milan coach Gennaro Gattuso celebrates with his players after winning the Serie A soccer match between AC Milan and Chievo Verona at the San Siro stadium in Milan, Italy. UEFA has on Wednesday, June 27, 2018 given AC Milan a one-year Europa League ban for overspending on player transfer and wages. Milan last year spent more than 200 million euros (then nearly $250 million) on new players amid questions over the financial stability of the Chinese-led consortium that purchased the Italian club from Silvio Berlusconi for $800 million in April 2017. (AP Photo/Antonio Calanni, file)MILAN — UEFA banned AC Milan from European competition for one year on Wednesday for overspending on player transfers and wages in one of the toughest sentences handed down for breaching financial fair play regulations.Milan will be excluded from next season’s Europa League unless an appeal to the Court of Arbitration for Sport is successful.ADVERTISEMENT Christopher Tolkien, son of Lord of the Rings author, dies aged 95 “The Adjudicatory Chamber of the Club Financial Control Body (CFCB) … has taken a decision in the case of AC Milan that had been referred to it by the CFCB Chief Investigator for the breach of the UEFA Club Licensing and Financial Fair Play Regulations, in particular the break-even requirement,” UEFA’s statement said.“The club is excluded from participating in the next UEFA club competition for which it would otherwise qualify in the next two seasons (i.e. one competition in 2018/19 or 2019/20.”Atalanta, which finished seventh, looks set to take Milan’s Europa League place, with Fiorentina entering at the second qualifying round.Fiorentina announced on Wednesday it had brought the start of its pre-season training forward by two days, to July 2.The first leg of the second qualifying round is scheduled for July 26.ADVERTISEMENT A statement announcing the club’s appeal said the breach occurred “in the three-year period between July 2014 and June 2017” — before its spending spree.Milan spent more than 200 million euros last year (then nearly $250 million) on new players amid questions over the financial stability of the Chinese-led consortium that purchased the club from Silvio Berlusconi for $800 million in April 2017.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownIt finished sixth in Serie A and qualified for the Europa League.UEFA rejected both a voluntary agreement at the end of last year and a settlement agreement last month. Volcano watch: Island fissures steaming, lake water receding Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Tim Cone, Ginebra set their sights on elusive All-Filipino crown ‘Dark day for German football’ after World Cup elimination Cloudy skies over Luzon due to amihan Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew MOST READ Taal victims get help from Kalayaan town Don’t miss out on the latest news and information. Jury of 7 men, 5 women selected for Harvey Weinstein rape trial LATEST STORIES Bicol riders extend help to Taal evacuees In fight vs corruption, Duterte now points to Ayala, MVP companies as ‘big fish’ View comments Sports Related Videospowered by AdSparcRead Nextlast_img read more