UEFA have decided to exclude Málaga from the next European competition they qualify for after they failed to settle their debts with other clubs, tax authorities and employees.
The decision does not affect their participation in this year's Champions League.
A statement on UEFA's official website read:
"The club is excluded from participating in the next UEFA club competition for which it would otherwise qualify in the next four seasons (i.e. 2013/14, 2014/15, 2015/16, 2016/17). In addition, Málaga will be excluded from a subsequent UEFA competition for which it would otherwise qualify (in the next four seasons) if it does not prove, by 31 March 2013, that it has no overdue payables towards football clubs or towards employees and/or social/tax authorities, in accordance with the UEFA Club Licensing and Financial Fair Play Regulations.
The club will not be able to compete in Europe in 2013-14 or in 2014-15, 2015-16 or 2016-17."
On 11 September of this year, after UEFA decided to withhold European prize money from Málaga and a further 22 clubs due to their debts, Málaga declared they had "normalised the financial situation with other clubs, employees and players" and said they were negotiating with the Spanish tax authorities.
UEFA explained that Málaga would also be fined 300,000 euros, but will now be granted the previously withheld European prize money.
Five other clubs have been suspended from future European competitions - Partizan Belgrade, Rapid Bucharest, Osijek and Dinamo Bucharest- while Vojvodina and Arsenal Kiev have both been fined for not paying off debts.