Daniel Sturridge has been banned for six weeks and fined £75,000 after being charged with a breach of FA betting rules concerning his loan move to West Bromwich Albion in January.
The FA conducted a lengthy inquiry before announcing a misconduct charge last November and the verdict was delivered on Thursday afternoon.
Betting offences have previously resulted in heavy sanctions, with Joey Barton banned for 18 months last year after accepting an FA charge relating to 1,260 bets over 10 years.
Bologna are reportedly keen on signing former Liverpool striker Daniel Sturridge.
Sturridge banned for six weeks and is now a free agent after his Liverpool contract expired, and the Sunday Express claims Bologna have approached the Englishman.
While they are putting together a package for the 29-year-old, the newspaper warns he will need to come down considerably from the £120,000 (€133,000) a week he earned at Anfield.
Sturridge scored 67 goals in 160 appearances in six-and-a-half seasons with the Reds, helping them win the Champions League last season.
However, a lack of form and fitness tarnished the latter part of his spell at Anfield.
The forward has also been linked with moves to Aston Villa and Rangers.
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