Real, Atletico hit with transfer bans

Spanish giant Real Madrid suffered another institutional embarrassment on Thursday as it and rival Atletico Madrid were banned by FIFA from buying players for one year over their dealing in underage players.

The ban will start from the July transfer window this year and finish with the January transfer market in 2017, meaning newly appointed Real coach Zinedine Zidane will be unable to strengthen his squad this summer.

Atletico was also fined $850,000 and Real $350,000. However, both clubs are still allowed to sign players until the end of the month.