Cyprus Mail
Europa League Sport

CAS overturns UEFA ban on AC Milan

AC Milan are now free to compete in this season's Europa League

The Court of Arbitration for Sport on Friday overturned a decision by European governing body UEFA to ban AC Milan from next season’s Europa League competition, saying the Italian club’s finances had improved after a recent ownership change.

UEFA said last month that AC Milan did not meet a break-even requirement under its Financial Fair Play regulations, adding the club had not provided sufficient evidence of its financial stability.

Since then, US hedge fund Elliott Management has taken control of the indebted football club from Chinese businessman Li Yonghong and promised to inject 50 million euros to help stabilise its finances.

Li bought the Serie A club last year from former Italian prime minister Silvio Berlusconi with the help of Elliott, but then failed to repay the fund.

In a statement, the court said that UEFA was not able to consider some important elements at the time of its decision, “in particular that the current financial situation of the club was now better, following the recent change in the club’s ownership”.

It referred the case back to UEFA to “issue a new proportionate disciplinary measure on the basis of the current financial situation of the club”.



Related posts

Havertz hits hat-trick as big guns dominate minnows

Press Association

Omonia beaten by Olympiacos in Champions League qualifying

Kyriacos Nicolaou

Apollon crash out of Europa League after home thrashing

Kyriacos Nicolaou

Japan to require Covid tests for Olympic athletes

Reuters News Service

De Bruyne, Lewandowski, Neuer on UEFA player of the year shortlist

Reuters News Service

Moyes discovered positive test an hour after arriving at London Stadium

Press Association