FIFA President Infantino Comes Up With Stricter Financial Regulations

Infantino Stricter Financial Regulations
FIFA president Gianni Infantino has called for the prospect of salary and transfer fee caps to be discussed at all levels of the game.

The coronavirus pandemic and its effects has led to calls for financial reform across a cash-rich industry and Infantino has encouraged discussions on the matter.

“On the financial and governance aspects, I also heard some interesting proposals on a wide range of topics,” he wrote in an open letter to FIFA’s members.

“From salary caps to transfer fee caps or other taxation mechanisms, to the possible obligation for governing bodies, competition organisers and clubs to build reserves or to contribute to a reserve fund which can be of assistance in hours of need such as now.

“I personally advocate for clearer and stricter financial regulations, imposing full transparency and good governance principles, and not only limiting this to the transfer system, but to the entire football ecosystem.

“FIFA is doing already a lot of work on this area, even if we face some strong vested interests who fight against our plea for a better global governance in our sport.

“Dear friends, we will need your full support and commitment to move to the next level of good governance in football globally.

“I think that these and other measures, projects and ideas should be discussed at all levels. I know that this is something that will spark intense debate, but debate is healthy, and we should speak about it all together – as we stand together during this difficult period.”

Even the richest clubs in the world are being affected by coronavirus, with Tottenham taking out a £175million loan from the Bank Of England this week in order to plug a £200million hole in expected revenue.

FIFA has plans for a rescue package for all areas of the game and Infantino hopes to get it sorted soon.

“The need for top club football to resume has understandably taken priority, but we must also consider national teams, women’s football, lower-tier domestic leagues, youth and the grassroots game,” Infantino added.

“We have to show unity across all aspects of football and make sure football can resume in its globality. This is our priority and our financial relief plan will also follow this principle.

“In a constructive spirit of consultation that seeks to benefit all of football, FIFA is working hard to present a positive solution to the FIFA Council in the coming weeks.”
Football is beginning to resume following a long hiatus, with all games played behind closed doors.

FIFA has previously warned that the game will be “very different” until a Covid-19 vaccine can be found and Infantino has urged associations to be patient before allowing fans return to the stadium.
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