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What impact UEFA's decision could have on Milan's transfer market

What impact UEFA's decision could have on Milan's transfer market

AC Milan's transfer market has inevitably been brought to a halt and at the moment, with the Rossoneri looking to build on the free signings of Pepe Reina and Strinic, with Badelj being an opportunity, according to Tuttosport. 
 
However, the San Siro side will still wait for UEFA's decision before proceeding into advanced talks, although the decision could affect anything from restrictions on the market to exclusion of Europa League. 
 
In this latter case, obviously, the difficulties would be to convince certain players to come to Milan without Europe and, at the same time, some players could decide to leave the club; from Suso to Bonaventura, Romagnoli and Donnarumma. 
 
Should Milan to be excluded from the cup, then there would certainly be other sanctions. With a settlement agreement, two types of penalties could've been imagined, namely a reduction of the list (from 25 to 22-21 units) and a balance of zero between purchases and departures. Therefore, to sign a player for €30m you would have to sell a player for the same amount or more. Now it seems that the sanctions of UEFA, in the event of admission to the Europa League, will be tougher. There could be a total block on Milan's transfer market, which is a decision that would be taken by FIFA.
 
A potential CFCB ban could be on not being able to register new players for next season's Europa League, which would force Milan not to sell their important players in order to not seem weakened. Obviously, we are talking about Uefa competitions, while in Serie A Milan could field all the new players brought in the summer. The "lighter" penalty could instead be a reduction of the list to about 19-20 players.