Real Madrid's ban on signing players has been reduced to one transfer window after the club's appeal against a FIFA punishment for illegally buying under-age foreigners was partially upheld by the Court of Arbitration for Sport (CAS) on Tuesday.
A CAS statement said world governing body FIFA's decision handed down in April had been set aside and replaced by its own verdict.
"Real Madrid CF is banned from registering any new players, either nationally or internationally, for one entire transfer period (previously two)," CAS said.
Real's initial 360,000 Swiss francs ($350,000) fine has been reduced to 240,000.