Malaga CF said Friday that it will challenge UEFA's decision to punish the club for financial irregularities by barring the Spanish side from the next European competition for which it qualifies.

"Malaga wish to communicate their total disagreement with today's UEFA ruling," club directors said in statement.

"The measures taken against the club are absolutely disproportionate and unjustified," the directors said, vowing to "work energetically and without rest to achieve justice, using all available necessary means."

Malaga CF said it continues with a financial restructuring and expects to settle its tax problems in Spain within the next few weeks.

The club also denied claims that it had failed to pay players.

UEFA's action coincides with Malaga's first foray in the most prestigious European tourney, the Champions League, where the club has performed well enough to land a spot in the round of 16.