UEFA had earlier banned the Rossoneri from the competition’s upcoming season due to FFP violations.
The announcement will be made official in the coming hours. But, reports in Italy claim that the Rossoneri will play in next season’s competion.
Following the club’s hearing in front of CAS members yesterday, Managing Director Marco Fassone HAD indicated that it was a very intense session.
Speaking to Calciomercato Fassone said, “We’ve been here since 9.30 am and there was lot of time to listen to us. I have the feeling that the members of CAS have heard well the details of our plan. They have all the elements to make a good judgment.”
Elliot representative Eric Tuill was also present during the hearing. The club’s shareholders’ meeting will take place on Saturday and according to multiple reports Carlo Scaroni will be named the new President. It is also being speculated that Fassone and Massimiliano Mirabelli could also be replaced by Elliot. The American Fund company apparently has a long-term plan to restore the club’s financial stability, in a bid to bring back their glory days.
In late June 2018, UEFA had confirmed that drastic action against the Rossoneri was being taken for alleged breaches of break-even requirements mandated by Financial Fair Play. The body had barred them from competing in the Europa League for the next two season.
The Italian outfit qualified for the Europa League after finishing sixth in Seria A last campaign. After the ban, the club immediately filed an appeal to CAS.
Now, according to multiple reports in Italy, the ban has been revoked, but the club could still end up with at least some form of punishment – as CAS has reportedly directed UEFA to “issue a proportionate disciplinary measure.”
City and PSG also fell foul of FFP regulations way back in 2014. The English outfit were initially fined £49m and were handed transfer restrictions. They were also ordered to submit a reduced squad for the Champions League due to the breaches. However, the fine was later reduced to £15.6m.