Sun | Nov 29, 2020

FIFA seeks business partner for transfer market claims

Published:Friday | July 26, 2019 | 12:43 AM

ZURICH (AP):

FIFA is seeking a business partner that will help smaller football clubs get their fair share of transfer fees.

FIFA says “one of the key worrying trends” in football is that clubs don’t get training compensation and solidarity payments when players they developed are transferred later in their career.

About $400 million each year should be paid through FIFA Clearing House, which is set to launch next year.

FIFA says the winning tender must ensure compliance with “anti-money laundering laws and checks for sanctioned countries”.

Creating an efficient payment system is part of FIFA’s wider plan for its first major transfer market reform since 2001.

The governing body of football is inviting tenders from companies that can operate the scheme under FIFA’s control.