Chelsea Football Club has today released the following statement.
It reads: 'Chelsea FC has today received the decision of the FIFA Appeal Committee.
'The Club notes that the FIFA Appeal Committee has decided to partially uphold the appeal lodged by Chelsea FC against the decision of the FIFA Disciplinary Committee. However, the Club is very disappointed that the transfer ban of two consecutive registration periods was not overturned.
'Chelsea FC categorically refutes the findings of the FIFA Appeal Committee. It acted in accordance with the relevant regulations and will appeal the decision to the Court of Arbitration for Sport (CAS).'