Lausanne - The Court of Arbitration for Sport on Friday overturned a European ban imposed on AC Milan for violating UEFA's financial fair play rules, calling the punishment "not proportionate."

CAS said that elements of the case "have not been properly assessed" by UEFA judges, noting that the "current financial situation of the Club was now better," and referred the case back to UEFA.

CAS "considers that (UEFA's) Adjudicatory Chamber is in a better position than the CAS Panel to issue a new proportionate disciplinary measure on the basis of the current financial situation of the Club," the court said in a statement.

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