Serbian champions FK Crvena zvezda have been excluded from the 2014/15 UEFA Champions League for breaching UEFA Club Licensing and Financial Fair Play Regulations.
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The Adjudicatory Chamber of the UEFA Club Financial Control Body (CFCB), chaired by José Narciso da Cunha Rodrigues, has taken its decision in the case of FK Crvena zvezda. The CFCB chief investigator referred this case to the Adjudicatory Chamber in early April after becoming aware of the existence of overdue payables as a result of a complaint.
The CFCB Adjudicatory Chamber determined that the club were in breach of a number of provisions of the UEFA Club Licensing and Financial Fair Play Regulations. Accordingly, Crvena zvezda are excluded from participating in the 2014/15 UEFA Champions League for which they had qualified on sporting merit.
The club have ten days to appeal this decision before the Court of Arbitration for Sport (CAS).
An investigation against the Football Association of Serbia (FSS) might be opened within the coming days by the chief investigator for alleged breaches of the club licensing regulations in relation to the granting of the licence to the same club.