"The Olympic football tournaments are a unique opportunity for a player as they are high-level competitions that give everyone involved, most notably young players, the chance to gain international experience that will stand them in good stead for the future," Blatter said. "I regret that the CAS has not taken the Olympic spirit into consideration."

The men's Olympic tournament is for players 23 and under, with three exceptions for older players. But Barcelona and the German clubs Werder Bremen and Schalke complained they do not want to lose their players for the start of the season.

Barcelona and Schalke are to play Champions League qualifying matches during the Olympics, and they could lose out on millions if they fail to reach the group stage.

Reeb also said there was nothing to prohibit other clubs from challenging FIFA and getting their players back from the Olympic tournament.

Liverpool manager Rafa Benitez had been reluctant to release Ryan Babel to the Netherlands, and could use the ruling to call the forward back to England.