UPDATE - Zlatan Ibrahimovic fined €50,000 by UEFA for owning stakes in betting company

 European football governing body, UEFA have confirmed that AC

Milan striker, Zlatan Ibrahimovic has been fined €50,000 for his involvement in a betting company, with his club also fining him €25,000.

The Swedish star, owns a 10 per cent stake in Bethard, a Malta-based gambling website and it is against the rules of UEFA to have any financial interest in a betting company.

After opening an investigation last month, UEFA on Wednesday, May 26 issued a statement.

"The Chairman of the UEFA Appeals Body today took the following decisions:

"To fine Mr. Zlatan Ibrahimovic €50,000 for violating Article 12(2)(b) of the UEFA Disciplinary Regulations (DR), i.e. for having a financial interest in a betting company.

"The Chairman of the UEFA Appeals Body also issued Mr. Ibrahimovic with a directive aimed at ceasing the player’s association with the relevant betting company.

"Finally, the Chairman of the UEFA Appeals Body decided to warn and fine AC Milan €25,000 for violating Article 12(2)(b) of the UEFA DR (in connection with Article 8 of the UEFA DR) for its player, Mr. Zlatan Ibrahimovic, having a financial interest in a betting company."