ROME - Juventus on Monday were given a 10-point deduction in Serie A after a revision of their initial 15-point penalty inflicted on the club over illicit transfer activity.
The new sanction, announced by the Italian Football Federation's (FIGC) appeals court, severely dents Juventus' hopes of qualifying for next season's Champions League, pushing them out of the top four with two matches remaining this season.
Juventus have competed in Europe's elite competition in each of the past 11 seasons dating back to 2012.
In April, Italy's highest sporting court, the Sports Guarantee Board, revoked Juve's 15-point penalty inflicted by the FIGC's appeals court and sent the case for a new judgement.
It asked the appeals court to revise punishments handed down to the club and some key figures, including former vice-chairman Pavel Nedved who was acquitted on Monday.
Juventus said they "reserve the right" to appeal the latest decision to the Sports Guarantee Board.
"While not ignoring the need for urgency, which Juventus has never shied away from during the proceedings, it is emphasised that these are facts that still have to be evaluated by a judge," the Turin giants said on Twitter.
Long bans given to former chairman Andrea Agnelli, ex-CEO Maurizio Arrivabene and sporting directors Federico Cherubini and Fabio Paratici were upheld in April.
But Juventus' hopes that the points deduction would be completely cancelled were quashed on Monday.
Massimiliano Allegri's men, who were second in the top flight, fall to seventh in the table.
Juve are now five points behind fourth-placed AC Milan and host the losing Champions League semi-finalists in their penultimate match of the campaign this weekend.
Juve then visit Udinese in their final match of the season on June 4.