Interview with FIFA’s chief legal officer: This is how we will operate the new transfer bank
9 April 2021
FIFA's chief legal and compliance officer, Emilio Garcia Silvero, explains that FIFA will fund the new transfer bank, which will be located in the Netherlands, and run operations with a dedicated team.
Garcia Silvero expects the clearing house to become operational this year.
“The Training Compensation 2.0 system will take a global approach, and ensure a more equitable distribution of funds to clubs that produce professionals,” he says.
The legal chief recognize that in the beginning the new system will create some inconvenience for clubs adapted to the old system “…but for sure it will increase transparency and good governance all around the world,” he says.
FIFA will fund the clearing house, which will handle all training rewards, agents fees and, in future, transfer fees, with ‘a global solidarity mechanism’ set as well to replace the current system of training compensation and solidarity, the world federation’s legal director Emilio Garcia Silvero said.
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