LONDON, July 31 (Reuters) - UEFA will announce on Wednesday at 1200 GMT whether to allow AC Milan to participate in this season's Champions League, it said on Monday.
Milan will face Cork City of Ireland or former champions Red Star Belgrade in the third qualifying round if UEFA decides they can play in Europe's premier club competition.
The six-times European champions were found guilty in the Serie A match-fixing probe but an Italian soccer appeals court adjudicating in the scandal reduced their initial punishment.
Milan, initially deducted 15 points, had the deficit cut to eight which enabled them to be included in last Friday's Champions League draw.
However, UEFA reserved the right to decide whether they could take up their place in the competition.
European soccer's governing body said on its Web site on Monday that it had 'invited Milan and the Italian Football Federation to submit observations on the matter after last Thursday's meeting of the Emergency Panel'.
The panel will decide 'after a detailed study of the matter, including analysis of any further information received'.