New Delhi: In an unprecedented step to curb exorbitant spending without means in football, European football's governing body UEFA has banned Galatasaray from European competition for two seasons.


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UEFA on Wednesday confirmed the development. Galatasaray will not be allowed to play in the Champions League or the Europa League in the 2016-17 and 2017-18 seasons having failed to comply with Uefa’s settlement terms.


Early today, Turkish broadcaster NTV reported that in January the club had failed to comply with its rules governing the permitted level of financial losses, paving the way for a potential ban from its Club Financial Control Body (CFCB).


According to UEFA, Financial fair play is about improving the overall financial health of European club football.


was approved in 2010 and the first assessments kicked off in 2011. Since then clubs that have qualified for UEFA competitions have to prove they do not have overdue payables towards other clubs, their players and social/tax authorities throughout the season. In other words, they have to prove they have paid their bills.


Istanbul-based Galatasaray have won 50 domestic trophies and is still the Turkish team to win a major UEFA competiton -- the UEFA Cup and UEFA Super Cup in 2000.


They went out of the group stage of this season's Champions League, and are currently fifth in Turkey's Super League -- which they have 20 times.


International stars like Wesley Sneijder, Lukas Podolski and Fernando Muslera, and Turky legend Hamit Altıntop are some of the player in current Galatasaray role.