The Italian club failed to comply with UEFA's demands regarding Financial Fair Play rules.

Milan's multi-millionaire investment might not pay off in European competitions anytime soon, as the rossoneri are set to be excluded from the 2018-19 UEFA Europa League due to their failure to observe Financial Fair Play rules established by football's European governing body.

The team was able to pay for several transfers during last summer's transfer window, which included signings such as Leonardo Bonucci, Ricardo Rodriguez, André Silva and Hakan Çalhanoglu. As of now, Milan has been forced to return over $353 million in debt to American investment firm Elliot Management.

The documents presented by Milan's execs to UEFA, validating their current resources and their capability to pay the loan were rejected, resulting in the team's possible ban from the European competition next year.

UEFA is set to announce the punishment in the next couple of weeks.

Milan's general director Marco Fassone spoke after the hearing.

"UEFA's decision surprised me, it leaves a bitter feeling. We will analyze all legal aspects surrounding it, because this decision could cause major damage to the club's image around the world," Fassone stated.

Added to the consequences this decision could have on the pitch, Milan's need to sign players may not be satisfied, since UEFA usually punishes teams that fail to comply with FFP rules with a transfer ban.