sitemaps.org/schemas/sitemap/0.9/sitemap.xsd BrandArena: Fifa to ban third-party ownership

Wednesday, 1 October 2014

Fifa to ban third-party ownership

On Friday, 26th September, 2014, football governing body, Fifa made its intention to impose a worldwide ban on third-party ownership (TPO) known, announcing on Twitter that: "The Fifa Executive Committee (ExCo) has taken the principle decision that third-party ownership shall be banned with a transitional period."

Although the phasing in of the new rules could take up to four years.

At the press conference that followed Friday's executive committee meeting, Blatter also refused to say whether he had handed back a £15,600 watch given as a gift by the Brazilian FA at this summer’s World Cup. The 65 Parmigiani watches were handed to ExCo members and heads of national associations and appear to be in clear breach of Fifa’s code of ethics. “This problem over the watches is a non-problem,” said Blatter. “What is wrong? According to the code of ethics, maybe it is the value but what is the value? It says in the code of ethics only gifts of more than a ‘nominal value’ must be returned.”

Blatter also sidestepped calls for a report by Fifa’s ethics committee into the bidding process for the 2018 and 2022 World Cups to be made public.

“The code of ethics is based on certain principles, one of which is confidentiality,” said Blatter. ''

Third party ownership has already been outlawed in Britain, while Uefa had also announced plans to ban a practice that is more common in Europe and South America and which gives investment companies a stake in the economic rights of players. It is argued that third-party ownership creates dangerous conflicts of interests and Sepp Blatter, the Fifa president, said on Friday that a working group, led by former Football Association chairman Geoff Thompson, would now be set up to draft new rules.

Manchester City’s £32?million purchase of Eliaquim Mangala from Porto was among the transfers in England this summer that were complicated by third-party ownership. It meant that City were required to buy out the economic rights for Mangala from both Porto and his investors.

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