FIFA to ban third-party ownership of players
26 September 2014, 20:59
Zurich - Soccer's governing body FIFA agreed to ban the third-party ownership of players on Friday, its president Sepp Blatter said.
Blatter said a working group would be set up to implement the ban which would come into effect following "a transitional period".
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"We took a firm decision that TPO should be banned but it cannot be banned immediately there will be a transitional period," Blatter told a news conference following a meeting of the executive committee.
His announcement followed pressure from European soccer's governing body UEFA, which had said it would ban it unilaterally if FIFA did not act.
Third-party ownership is when the transfer rights of players are wholly or partially owned by the footballer himself or a company, instead of just the player's club.
It is widespread in Brazil and Argentina but is also present in some European countries such as Portugal.