AC Milan have reached an agreement with Uefa to serve a one-year ban from European football over breaches of Financial Fair Play rules.
The club, which finished fifth in Italy’s Serie A, will miss next season’s Europa League.
Uefa will end its proceedings against the Italians for overspending, said the Court of Arbitration for Sport (CAS).
“AC Milan is excluded from Uefa club competitions of the sporting season 2019-2020,” said CAS.
Milan’s ban means AS Roma, who came sixth in the standings, move up to the Europa League group stage while their place in the qualifying rounds is taken by seventh-placed Torino.
Seven-time European champions Milan finished one point behind local rivals Inter, who took the final Champions League qualifying place.