LAUSANNE, Switzerland (AP) — Financially troubled Spanish club Rayo Vallecano has lost a key legal battle while trying to overturn a ban from this season's Europa League.

The Court of Arbitration for Sport says it dismissed the Madrid club's request for an interim ruling, would have let it enter next week's third qualifying round draw.

CAS says a hearing to judge the case's full merits "is likely to be held within the next weeks."

The Spanish football federation punished Rayo Vallecano for overdue unpaid debts by refusing to grant a license to play in UEFA competitions.

The club finished eighth in the league last season and was poised to get the Europa League place vacated by sixth-place Malaga, which was banned by UEFA for financial problems.

Ninth-place Sevilla should get the Europa League entry.