Real Madrid's FIFA-imposed transfer ban has been halved by the Court of Arbitration for Sport following an appeal from the Spanish giants.
Real and city rivals Atletico Madrid were initially handed a two-window transfer ban in January for multiple breaches of rules on the transfer of Under-18s.
Both clubs were unsuccessful in an appeal in September, but Real have now seen their punishment halved to one window, meaning that they will be free to sign players again in the summer of 2017.
"In essence, the sole arbitrator found that some of the rule violations alleged by FIFA could be upheld, but not all of them," read a statement from CAS.
"Considering that the infractions committed by Real Madrid were less serious and less numerous than argued by the FIFA judiciary bodies, the sole arbitrator ruled that the sanctions imposed on Real Madrid had to be reduced."
An announcement on Real Madrid's official website added: "The decision highlights the injustice of the original ban imposed by FIFA, although the club regrets that CAS lacked the courage to revoke the ruling entirely."
Atletico have also appealed to CAS, but no decision has been announced on their case yet.
Barney Corkhill
