Fifa halts new regulations for football agents
2 min readUnlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Fifa has abruptly suspended new global regulations for football agents on the eve of the January transfer window, in the latest legal reverse for an international sporting organisation.
Football’s global governing body unveiled new rules for football agents late last year and brought them into effect in October. The changes include a written exam for those seeking to work as licensed agents, a change to the way player representatives are paid and — most controversially — a limit on the fees agents can charge.
Talent agencies responded with legal challenges in several countries, arguing that the fee cap was anti-competitive and would reduce their turnover from football by about 50 per cent. A case brought in Germany resulted in an injunction against the rules and ultimately forced Fifa to halt their introduction globally.
In a letter sent to member federations on Saturday, Fifa said it suspended the new rules globally to comply with the German ruling and “protect competitive balance at a worldwide level”, but that it had already launched an appeal.
“Fifa remains convinced that the [new regulations] are a necessary, proportionate and fully legal regulatory step to address systemic failures within the international transfer system”, the Zurich-based organisation added. “Not only all football stakeholders, but also all European political authorities have confirmed the importance of such a regulatory framework.”
Agents had warned that pushing ahead with the new rules would result in a chaotic January transfer window during which some — but not all — countries would have imposed the cap on fees. French law in effect protects agents’ fees, while this month a UK tribunal ruled that the cap went against national competition law.
Fifa’s rationale for the new rules was to raise standards in the industry and reduce the…
2023-12-30 10:48:55
All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator
Read more from original source here…