Porto will play in the Champions League after an appeal against their reinstatement was dismissed.

The Court of Arbitration for Sport delivered the verdict on Tuesday morning after considering evidence submitted by Porto, Benfica and Guimaraes.

UEFA had initially banned Porto from the Champions League in May after they were convicted of attempting to bribe referees in the domestic Super Liga during the 2003-04 season.

That decision was then overturned on appeal as a UEFA committee concluded that the investigation in Portugal was not yet complete, leading Benfica and Guimaraes to appeal.

Porto won the Super Liga last season - despite being docked six points in the scandal - to earn automatic entry into the Champions League.

If they had been denied access, Guimaraes stood to take an automatic spot as the third-placed club, while Benfica, who finished fourth, would have been entered at the qualifying stage.

Tuesday's decision means that Benfica will have to be content with a UEFA Cup place.