Super League club PAOK could be banned from European competition for one season if they fail to get their finances in order by June 30, UEFA has announced.
The European governing body has handed the Greek side a suspended one-season European ban after finding them guilty of breaching club licensing regulations.
The Thessaloniki side have been fined €250,000, 200,000 of which is suspended for three years, and been banned from one UEFA club competition for which they qualify in the next three seasons, again suspended for three years.
UEFA said PAOK had until the end of June to get their house in order, while the club have three days to lodge an appeal against the decision.
"PAOK must prove that, by 30 June 2012, they have no outstanding overdue financial obligations towards employees, tax authorities, social security institutions or other clubs arising from transfer agreements incurred before 30 June 2012,'' a statement said. "UEFA's competent body will ensure that PAOK comply with this order.''