Malaga made it to the semifinals of the Champions League this year before falling to Dortmund.
Miguel Angel Morenatti/AP

MALAGA, Spain (AP) -- European soccer's governing body has cut Malaga's ban from two years to one for not meeting its financial fair-play regulations.

While the club remains barred from European competition next season for failing to pay player wages and taxes on time, Malaga said Friday the penalty was lifted for 2014-15.

The Spanish club has appealed the ruling by the Union of European Football Associations to the Court of Arbitration for Sport.

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