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New regulations governing transfers in football are set to be introduced after FIFA backed reforms which will lead to more transparency, should final approval be received.
The European Clubs Association (ECA), the top leagues and players (FIFPro) and FIFA member associations, confederations and the FIFA administration all approved the new ideas at a meeting in London on Monday, FIFA announced in a statement.
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"We have brought everyone to the table and all key actors of the industry have understood that we need to take action, leading today to this reform proposal", FIFA President Gianni Infantino said.
"This is a significant first step towards achieving greater transparency, the effective enforcement of rules that will deliver millions in solidarity payments to clubs, and developing a consensus on how to tackle the issue of agents, loans and other key aspects of the transfer system."
The main points of the new principles, which will now be put to the FIFA Council for approval at its next meeting on Oct. 26, would see the creation of a clearing house to oversee and govern all transfers and ensure there is no fraudulent activity.
This would ensure the correct processing of solidarity payments, training compensation, agents' commission fees and potentially also govern the actual transfer fees, while an electronic transfer system would also be introduced both for international and domestic deals.
Furthermore, loan moves would be limited and bridge transfers and sub-loans would be prohibited.
Leading player agents were also consulted on the matter and, according to the statement, they are in agreement with the proposals.
"I am very pleased by the spirit of cooperation that we have seen so far in this process," chairman of the Football Stakeholders Committee, Vittorio Montagliani said. "Everyone has contributed in a productive way to the discussions, understanding that this is a crucial matter for the good of football.
"It has allowed us to reach a broad consensus around a set of reform proposals."
Source: espn.co.uk