FIFA chief hails introduction of new transfer system

FIFA president Sepp Blatter has hailed the introduction of a new internet-based transfer system as an “historic moment for football”.

The Transfer Matching System requires both clubs involved in a player’s move to enter a number details of payments and contracts online before a deal can be authorised.

The two clubs must enter the same information or face the prospect of the transfer being blocked the governing body.

FIFA claim the system, which replaces its paper-based equivalent and has been trialled for two years in 18 countries, will make “international transfers quicker, smoother and, most importantly, more transparent”.

“This is an historic moment for football,” said Blatter. “TMS is a relatively simple online system but it will have a tremendous impact on the international transfer of players.

“The most important thing is that it increases the transparency of individual transactions and helps us to tackle issues such as the fight against money laundering and the protection of minors in transfers.”

Over 30 pieces of information must be entered into the system such as club details, all payments including the amount, timing and bank details, and solidarity payments to previous clubs.