La Liga giant, Atletico Madrid have had their transfer ban upheld by Court of Arbitration for Sports (CAS), with the sport tribune saying the club caused "irreparable damage".
It can be recalled that both Atletico Madrid and local rivals, Real Madrid, were banned from signing new players till January 2018 but Real's ban were reduced for them to make signings from this December.
CAS made it clear that its appeal panel had upheld the Atletico ban, but reduced the fine from 900,000 Swiss francs (827,000 euros, $927,000) to 550,000 francs.
Atletico "remains banned from registering players both nationally and internationally for two complete and consecutive transfer periods" , CAS said.
Both Atletico and Real saw initial appeals rejected by FIFA last September.
Atletico responded immediately, saying:
"This ruling is unfair and causes an irreparable damage to our club."
"We consider that the decision to support the prohibition of registering players in a second period, corresponding to the summer of 2017, supposes a comparative disadvantage and discriminatory treatment to our entity, since recently and in a similar case, the penalty was partially lifted, allowing to register players starting on July 1st," the club said.
Atletico, who appealed the ban in April, were reported to be hoping to sell striker Antoine Griezmann to
Manchester United and replace him with another Frenchman, Lyon's Alexandre Lacazette.
With no new players now coming in, Atletico stressed, however, that it had "full confidence in our current squad, with which we have won direct passage to the Champions League for the fifth year in a row and have reached the semi-finals of the Champions League and the King's Cup".
"The club has the commitment of the players and coaching staff to continue competing at the same level next season, despite this decision that is evidently detrimental to us.
"Together, team, club and supporters, we will continue to fight for our goals."
Atletico added: "Our sports planning for next season has contemplated at all times the two scenarios that could arise once CAS announced their decision.
"From this moment on, the club will move forward in the negotiations necessary to formalise the operations to register players from the 1st of January, when we will be authorised by FIFA to register new licenses."