Juventus were excluded from next season's Conference League on Friday for breaching financial fair play rules, UEFA announced.
The Italian giants were also fined €20 million with half that amount suspended.
"Juventus violated UEFA's regulatory framework...and it was decided to exclude Juventus from the 2023/24 UEFA men's club competition," said a UEFA statement.
European football's governing body said the rest of the fine will only be applied if the 2023, 2024 and 2025 financial years do not meet their accounting requirements.
Juventus said in a statement that they accepted the decision and would not appeal the sanction.
"Juventus, while continuing to consider the alleged violations insubstantial and its actions correct, has declared to accept the decision," the club said.
However, they insisted that this did not "constitute admission of any liability against itself".
UEFA also reached a settlement with Chelsea over the submission of incomplete financial information, related to "historical transactions" between 2012-19 - prior to the London club's acquisition by the Boehly-Clearlake consortium in 2022.
"Following the club's sale in May 2022, the new ownership identified, and proactively reported to UEFA, instances of potentially incomplete financial reporting under the club’s previous ownership," UEFA said.
"Following its assessment, including the applicable statute of limitations, the CFCB First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of €10 million to fully resolve the reported matters."
Chelsea, who finished 12th in the Premier League following a chaotic campaign, will not be competing in Europe in 2023-24.