Spanish giants Real Madrid have confirmed their intentions to contest the transfer ban handed down by the FIFA Appeal Committee.
The Madrid duo were slapped with a one-year transfer ban after trying unsuccessfully to appeal their the suspension that was handed down by world football's governing body in January.
Both clubs appealed the initial ruling, meaning they were still able to strengthen their squads in the off-season transfer window.
However, the latest ruling prohibits the signing of any players in the next two transfer windows.
In a statement published on their official website, Real said: "In light of today's decision by the FIFA Appeal Committee, Real Madrid C. F. wishes to communicate the following:
"1. The club regrets said decision, understanding it to be deeply unjust and contrary to the fundamental principles of disciplinary law.
"2. The club will begin the appropriate appeals procedure before the Court of Arbitration for Sport (CAS), requesting that the decision be completely overturned, with absolute confidence that said organisation will come to an entirely favourable decision.
"3. Real Madrid C. F. will request that the procedure be undertaken in an urgent manner in order to obtain a decision from the CAS as quickly as possible."