Story highlights Real Madrid, Atletico Madrid handed transfer ban by FIFA

Ban relates to "violations" in signing minor players

Real fined $360,000; Atletico fined $900,000

Both clubs can appeal the ban

(CNN) It may be famed for signing the world's best footballers but there could be no more potential "Galacticos" arriving at Real Madrid until July 2017.

The 10-time European champion and city rival Atletico Madrid, who won the Spanish league title in 2014, have both been hit with transfer bans by FIFA for breaching rules relating to the registration of minors.

Real have been fined $360,000, while Atletico has been told to pay $900,000, and neither club will be able to sign players during the July 2016 and January 2017 transfer windows.

Top clubs often bring in young players and then develop them at their youth academies in the hope that they will go on to become major stars.

Competition is intense to attract the very best young players and in recent years FIFA has shown a willingness to monitor this market.

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