Spanish giants Atletico Madrid and Real Madrid have been hit with a transfer ban by FIFA.

Neither club will be allowed to buy players next summer or in the January 2017 transfer window. The ban does not include the current window, which may mean both teams will be busy in the transfer market in the coming weeks.

The ban is due to "breaches relating to the international transfer and registration of players under the age of 18" according to FIFA. Barcelona were given a similar ban in 2014.

FIFA investigated both teams over a combined 18-years of transfers. Various periods between 2007 and 2014 (Atletico Madrid) and between 2005 and 2014 (Real Madrid) were under scrutiny.

In a statement released by FIFA, they gave their reasons for the bans:

"The two clubs were found to have violated several provisions concerning the international transfer and first registration of minor players as well as other relevant provisions with regard to the registration and participation of certain players in competitions.

Both clubs are to serve a transfer ban that prevents them from registering any players at national and international level for the next two complete and consecutive registration periods for breaching articles 5, 9, 19 and 19bis as well as annexes 2 and 3 of the Regulations on the Status and Transfer of Players (the “Regulations”). The transfer ban, which does not affect the current registration period at all, given that it opened before the decisions were notified, applies to each club as a whole – with the exception of the women’s, futsal and beach soccer teams – and does not prevent the release of players."

The clubs were also fined by FIFA. Atletico Madrid were given a CHF 900,000 fine (€820,000 approx), while Real Madrid were fined CHF 360,000 (€329,000 approx).