AC Milan will appeal against UEFA's decision: 'The club is disappointed with the sentence'
At that time, Milan was right to do so and UEFA had to back down, reformulating a new sentence, which provides a fine of 12 million euros, limitation in terms of squad size and a warning that if the club will not achieve a balanced budget by June 30, 2021, they will have to say goodbye to European competitions for a season. A punishment that Elliott and the lawyers of the club consider disproportionate.
Here is the official statement from the website of the club: "AC Milan, after evaluating the decision expressed by the Adjudicatory Chamber of the Club Financial Control Body (CFCB), expresses disappointment and announces that it will start the appeal procedure at the Court of Arbitration for Sport in Lausanne."