Bastia face relegation to Ligue 2 over a €1.3million hole in their budget.
The National Directorate of Management Control (DNCG) ruled on Tuesday that the club would be denied entry to the French top flight over the issue.
Bastia have appealed the ruling and stress the expected sale of Ryad Boudebouz to Montpellier for a fee of €1.7million would cancel out the deficit and resolve the problem.
The club finished 12th in Ligue 1 last season.
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