AC Milan will not participate in the 2019/20 Europa League competition, after striking a deal with Uefa to serve a one-year ban from European football over breaches of Financial Fair Play rules.
The Rossoneri finished fifth in the Seria A and were in line for to play in Europe's second-tier club competition, but will now sit out after the agreement.
"AC Milan is excluded from participating in the UEFA Club Competitions of the sporting season 2019/2020 as a consequence of the breach of its FFP break-even obligations during the 2015/2016/2017 and the 2016/2017/2018 monitoring periods," read a statement from CAS.
"The Adjudicatory Chamber of the UEFA Club Financial Control Body is invited to issue a Procedural Order, acknowledging the outcome of the present arbitration(s) and terminating the AC-01/2019 proceedings relating to the 2016/2017/2018 monitoring period, which have become moot,"
The Italian club was found guilty of overspending between 2016-18, which was the second three-year accounting period in a row that had got them in hot water with UEFA.
Under Uefa's regulations, any club making losses beyond the permitted limits over a three-year period faces possible sanctions, and in some circumstances, a ban.
Torino, who finished seventh in Seria A last season is likely to take Milan's spot.
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