Football clubs to face ban for not providing solidarity payment

Madrid, Sep 25 (IANS) FIFA will impose a transfer ban on clubs that do not allocate the training compensation and solidarity payment once the FIFA Clearing House comes into force.FIFA will discuss the issue on Wednesday as part of the modification of the regulation on the statute and the transfer of players, and the regulation of the agents, FIFA's Chief Legal Officer, Emilio Garcia Silvero said during World Football Summit 2019 in Madrid on Tuesday, reports Efe news.A club will have to allocate 5 per cent of any transfer fee to the sides that trained the player in question when he was between 10 and 23 years old, the official said.Around $500 million should be allocated as training compensation and solidarity payment, but less than 1 per cent of this money is set to actually be rewarded, according to Garcia Silvero.The international transfer fees increased from $300 or $400 million in 2001 to 17 billion in 2018, with investments increasing from $100 or $200 million in 2001 to seven billion this year, the FIFA figures revealed.Only $67.7 million were paid out of $315 million due in 2018, according to FIFA.
--IANS aak/in