AC Milan's exclusion from the Europa League for the 2019-20 season has been upheld, the Court of Arbitration (CAS) has ruled.

The Rossoneri finished the previous campaign in fifth place, missing out on a Champions League finish to their city neighbours Inter by one point.

- Top European league honours 2018-19

But despite qualifying for the Europa League, they will not play in the competition next season after being found guilty of failing to adhere to UEFA's financial fair play (FFP) regulations.

"AC Milan is excluded from participating in the UEFA Club Competitions of the sporting season 2019-2020 as a consequence of the breach of its FFP break-even obligations during the 2015-2016-2017 and the 2016-2017-2018 monitoring periods," a CAS statement read.

In response, Milan have said they have "no other choice but to accept the sanctions." The statement also pointed to the fact the owners inherited a club in July 2018 which had "substantial accumulated losses."

Milan were initially excluded from competing in the Europa League last season, but were allowed back in following a successful appeal.

This ruling is the latest low point for the seven-time European champions, who have not competed in the Champions League since 2014.

Milan will be replaced in the Europa League by Torino, who finished the previous campaign in seventh place.

Roma, who finished sixth last season will now qualify directly to the group stage. Coppa Italia winners Lazio are Serie A's other participants in the competition.