Real Madrid, Atletico Madrid 'hit with transfer bans by FIFA'

Real Madrid and Atletico Madrid will allegedly be hit with transfer bans from FIFA.

The governing body has ruled that the La Liga giants should be prohibited from buying players for two transfer windows after purportedly breaching rules regarding the signing of underage players, according to Marca.

Barcelona were hit with the same penalty last year after being found guilty of breaking transfer regulations, and are unable to buy any new players in 2015.

The Catalan giants appealed the ruling with the Court of Arbitration for Sport, but FIFA's decision was upheld and the punishment still stands.

The report suggests that Real and Atletico will receive official confirmation of the bans from FIFA in the coming days.