Will Smith’s outburst at Sunday evening’s Academy Awards could cost him BIG TIME!

Future Oscar trophies could be held just out of reach of his grasp.

The newly minted Oscar winner’s actions on March 27, could mean he is banned from being nominated for his work at next year’s Academy Awards.

Matt Belloni of Puck News said, “I think the Academy is very upset.”

“The members I’ve spoken to are just appalled that this took place on the Oscar stage.”

He continued, “There will be a punishment. I don’t think they will take away his Oscar…”

He suggested that Smith’s nomination for “Emancipation” could be withheld next year.

The actor could be facing a year or six-month ban from the A.M.P.A.S.

Smith apologized on TV and on social media to Chris Rock, but it may not be enough to get him. back in the Academy’s good graces.