The French Football Federation's appeals body said in a statement they had "confirmed" the sanction imposed last month by the League's National Directorate of Management Control (DNCG).
Lens, the 1998 French champions, are owned by Azerbaijani businessman Hafiz Mammadov, who also owns FC Baku and recently acquired English Championship (second tier) side Sheffield Wednesday.
The DNCG said Lens were 10 million euros short in their budget for next season to meet financial criteria.
"Although the Bank of Azerbaijan has vouched for us ... the appeals commission has kept asking for 10 million euros (7.91 million pounds). As the funds have not yet been transferred to our bank account, the decision has been upheld," Lens said in a statement.
The club added they would appeal to the National Olympic Committee, France's highest sporting authority.
(Reporting by Gregory Blachier; Editing by Rex Gowar)
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