UEFA Ban Panathinaikos from European Competition for 3 Years for Breaching FFP

UEFA has hit Panathinaikos with a three-year ban from participating in European competition for breaching financial-fair-play regulations.

The governing body announced the news on its official website. In December, the Adjudicatory Chamber of the Club Financial Control Body decided that the Greek side had to prove to UEFA by March 1 that they had repaid their debts to creditors or come to an agreement with them, or they would face the ban.

However, the CFCB Investigatory Chamber determined on March 19 that Panathinaikos had failed to meet that requirement, and as such, the club will not be allowed to compete in the UEFA Champions League or the UEFA Europa League in the 2018-19, 2019-20 and 2020-21 seasons.

The Athenian outfit was also fined €200,000 in December, with half of it suspended subject to satisfying the established conditions. Since they were unable to do that, the remaining €100,000 is "no longer suspended and is due immediately."

European qualification is out of Panathinaikos' reach this season, as the club sit 10th in the Greek Super League, seven points off fifth place with two matches remaining.

The club began the season with a two-point deduction because of fan behaviour last year, and the Greek Super League deducted a further three points earlier this month for failure to settle unpaid wages to former defender Jens Wemmer.

JOHN THYS/Getty Images

The league's official table puts Panathinaikos on just 32 points despite racking up 10 wins and 10 draws this season, suggesting another three has also been deducted.

According to reports in Greece (h/t FourFourTwo), Panathinaikos' players went on strike earlier in April, having not been paid since October. The 20-time Greek champions' financial troubles began a month prior when owner Giannis Alafouzos departed.

Panathinaikos were losing finalists in the 1971 European Cup at the expense of Ajax, who also knocked them out of the Champions League semi-final in 1996. In 1985, Liverpool beat them at the same stage.