FIFA on the lookout for business partner in attempt to help smaller clubs get sizeable shares of transfer fees

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

  • 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

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

 FIFA on the lookout for business partner in attempt to help smaller clubs get sizeable shares of transfer fees

Representational image. Reuters

FIFA says "one of the key worrying trends" in soccer 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 soccer is inviting tenders from companies who can operate the scheme under FIFA's control.

Updated Date: Jul 25, 2019 19:52:26 IST