The Court of Arbitration for Sport (CAS) on Thursday rejected an appeal by Turkish football club Galatasaray against its ban from European competition for breaching financial fair play rules.

"The appeal filed by Galatasaray SK has been dismissed and the decision rendered by the UEFA Club Financial Control Body Adjudication Chamber on 2 March 2016 has been confirmed," the Lausanne-based CAS said in a statement.

"As a consequence, Galatasaray SK remains excluded from participating in the next UEFA club competition for...the next two seasons," the ruling further said.

Earlier this year, UEFA said the Istanbul-based club violated rules on the amount of financial losses each team can sustain.

The club has qualified for the Europa League and in May won its 17th Turkish cup.

ebe-bs/ea

GALATASARAY SPORTIF