A Swiss club belonging to Chechen businessman Bulat Chagaev have lost their appeal against their expulsion from the league over financial irregularities, the Swiss Football League said Thursday.

Neuchatel Xamax lost their playing license last week after the SFL ruled that the club was suspected of falsifying a bank document used as a guarantee when Chagaev bought the club in May 2011.

The club unsuccessfully appealed to the commercial court in the Swiss canton of Bern and the regional court of Bern-Mittelland, saying the SFL disciplinary committee did not have the authority to exclude them.

Chagaev, who puts the club's misfortunes down to an orchestrated media campaign to oust him, fired the entire team and backroom staff Tuesday after calling them back from a training camp in Dubai for a meeting, team official Raoul Savoy told Swiss newspaper NZZ.

Since he bought the team, Chagaev has dismissed five coaches and the entire administrative staff, as well as dropping all the club’s sponsors.

During the summer break in the 2011 season, the club unveiled a new crest featuring Chechen symbols and submitted an application to the SFL to change its name to include a reference to the Vainakh people of the Caucasus, which was rejected.

Some reports in Swiss media claimed Chagaev even threatened the players with violence.

Before buying Neuchatel, Chagaev was best known for bringing Dutch manager Ruud Gullit to Russian Premier League side Terek Grozny, where he was a club sponsor.

Gullit left the Chechnya-based team in June 2011 after five months in charge.