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AC Milan have been banned by UEFA from competing in the Champions League and Europa League for next season after breaching Financial Fair Play rules.UEFA announced its decision on Tuesday, citing that Milan would not be able to play in any European competition for the 2018/19 campaign despite qualifying for the Europa League.The Serie A side last year spent more than £175million (€200m) on new players as amid questions over the financial stability of the Chinese-led consortium that purchased the club from Silvio Berlusconi for £600m in April 2017. AC Milan have been banned by UEFA for competing in Europe for the next season RELATED ARTICLES Previous 1 Next Portugal star Cristiano Ronaldo to wear new limited-edition… World Cup 2018 – Mexico 0-1 Sweden, LIVE score: Ludwig… West Ham charged by FA with failing to control their fans… World Cup 2018 – South Korea 2-0 Germany, RESULT: Kim… Share this article Share 1.9k shares Milan released a video on Twitter on Monday putting their case forward ahead of UEFA’s decision, sharing some very important facts about their revenue. ‘Ahead of UEFA’s judgement, we want to share with you some significant facts. We are expecting fairness, rulings based on facts, equal rules for all,’ Milan captioned their video message on Twitter.Some of the club’s problems stem from when they took a loan from U.S. private equity fund Elliott worth more than £263m that club chairman Li Yonghong has struggled to pay back. Milan will not be able to compete in the Europa League next year despite qualifying for itMilan confirmed on Wednesday evening they will appeal against the decision to the Court of Arbitration for Sport.’AC Milan has instructed its legal team to appeal the decision before the Court of Arbitration for Sport in Lausanne, seeking for a prompt review of the ruling,’ the Rossoneri said in a statement.’AC Milan fully trusts the CAS will hear its arguments and will refrain from commenting further pending the arbitration.’The club added on Monday: ‘We invested more than €200m to open up a new era. A year later, the value of the investment remains unaltered and the value of the squad is the third highest in Serie A.’We secured qualification to the Europa League group stage and reached two finals of the Coppa Italia (both senior squad and youth team).’We are requalifying the Milanello training ground and taking part in the next season of the Women’s Serie A league. We adhered to the initiative of the FIGC on B-Teams and, if included in the list, will participate in the next Lega Pro season with our Under-21 side.’We immediately worked to make the organisation more efficient so we could run it in a virtuous manner. Despite the fact that after