November 21 – FIFA has announced that more than $125 million has been distributed to clubs around the world from transfers of their former players through its Clearing House system that has now been fully operational for two years.
The substantial sum has been funnelled through FIFA’s financial operation located in Paris, though nearly $200 million remains pending.
The funds are being allocated to more than 5,000 grassroots and professional clubs via the FIFA Clearing House a mechanism designed to ensure clubs that have a role in developing players receive their fair share of proceeds from future player sales.
The current FIFA system entitles players’ former clubs who trained them between the ages of 12 and 21 to share up to 5% of a future transfer fee.
In the past clubs, especially amateur youth clubs, were often unaware a transfer had gone through or did not have the expertise or resources to pursue a claim. Now the online process is managed by the FIFA finance house which notifies buying clubs of approved payments that must be made within 30 days.
FIFA has confirmed that a further $31.7 million that has yet to be disbursed to clubs as part of the financial solidarity rules.
Contact the writer of this story at moc.l1734906627labto1734906627ofdlr1734906627owedi1734906627sni@w1734906627ahsra1734906627w.wer1734906627dna1734906627