AC Milan will not play in the 2019/20 Europa League after breaching Financial Fair Play rules, the Court of Arbitration for Sport has announced.

The decision has been taken with the Italian club aiming to balance their books before competing in European competition again.

CAS issued a statement confirming they have accepted an agreement between the two parties due to Milan's previous breaches of FFP regulations.

A ruling by UEFA's Adjudicatory Chamber of the Club Financial Control Body (CFCB) in December 2018 stated the Serie A giants would be excluded from participating in European club competitions if they breached the rules again before June 2021.

If they were unable to be break-even compliant, Milan would have been excluded for the next UEFA club competition they qualified for in either the 2022-23 or 2023-24 seasons.

Milan’s absence means Roma, who finished a place behind the Rossoneri in the Serie A table, will enter the group stage draw for the Europa League, while Torino go into the qualification play-offs.

UEFA handed Milan a two-year suspension in 2018, only for the club to successfully appeal against the decision to CAS. However, they were referred again to the governing body’s CFCB earlier this year, raising the prospect of an increased punishment.

In accepting they will not compete in the next Europa League campaign, Milan have further time to balance the books under chief executive Ivan Gazidis, who arrived last December.

The seven-time European champions have also appointed former players Paolo Maldini and Zvonimir Boban as technical director and chief football officer respectively since the end of the 2018-19 campaign.

Marco Giampaolo, meanwhile, was named their new head coach on June 19, arriving from Sampdoria to fill the void created by Gennaro Gattuso's departure.