Friday 20 July 2018 14:18, UK
AC Milan will be able to play in this season's Europa League after winning their appeal at the Court of Arbitration for Sport.
The Serie A club were banned by UEFA last month after an investigation into their handling of the body's Financial Fair Play rules.
Milan were barred from the next European competition they qualified for, a suspension that would have kicked in straight away since they had secured a place in the 2018-19 Europa League.
They announced their decision to appeal against the sanction soon after it was handed down, and it has now been quashed.
CAS has also referred the case back to UEFA to issue a "proportionate disciplinary measure".
Since the ban was revealed, Milan have undergone an ownership change, with Elliott Management taking over the club after Chinese owner Li Yonghong failed to meet a deadline to make a debt repayment.
A CAS statement read: "Earlier this month, the Adjudicatory Chamber of the independent Club Financial Control body, chaired by José Narciso da Cunha Rodrigues, decided that AC Milan had breached the UEFA Club Licensing and Financial Fair Play Regulations; in particular the break-even requirement. As a result, the Chamber decided to exclude AC Milan from the 2018/19 UEFA Europa League.
"As is permitted by Article 34(2) of the Procedural rules governing the UEFA Club Financial Control Body, as well as Articles 62 and 63 of the UEFA Statutes, AC Milan appealed this decision to the Court of Arbitration for Sport, who confirmed the Chamber's view that there had been a breach of the regulations.
"However, the CAS noted that there were some important elements that could not properly be assessed by the Adjudicatory Chamber - most significantly the improvement of the Club's financial situation as a result of the recent change of ownership.
"As a result, AC Milan is reinstated to the 2018/19 UEFA Europa League and the CAS has referred the case back to the Adjudicatory Chamber to decide on the appropriate disciplinary measure, in the light of these developments."
