Malaga have announced that they will lodge an appeal with the Court of Arbitration for Sport (CAS) after UEFA banned the club from its competitions for one season as a result of financial irregularities.
Malaga were punished after being found to have unpaid debts by UEFA as the governing body implements its Financial Fair Play policy, but the La Liga side have insisted that their finances are in order. The club's director general, Vicente Casado, said at the turn of the year that he believed UEFA had made a "mistake".
With UEFA unwilling to show leniency, Malaga - who were also fined €300,000 as part of the punishment - will take their case to CAS.
A statement on the club's official website read: "Following a comprehensive review of the decision, Malaga reiterate the message that they are in absolute compliance of the Financial Fair Play rules.
"Making full use of their rights, and with the intention to demonstrate this absolute compliance in front of a tribunal, the club will appeal the decision to the Court of Arbitration for Sport.
"Out of respect for the appeals process, and to follow the proper conduct of the competitions that the club's teams are involved in, Malaga will not assess the content of the reasoning behind UEFA's decision received yesterday until the case has been settled."
Malaga have been instructed that they will be suspended from Europe for a further season if they fail to settle their outstanding debts by the end of March.
The club said in December that, despite indications money was owed to Osasuna as well as to Malaga players, "these agreements have been fulfilled".
Manuel Pellegrini's men, making their Champions League debut this season, finished top of Group C to reach the second round of the competition, where they will face FC Porto.