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Fifa Clearing House to be set up in Paris

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FIFA announced on Thursday that it had reached an agreement with French regulatory authorities to set up its future Clearing House in Paris. It is a body in charge of centralizing payments to training clubs in the event of a transfer, in which hundreds of millions of euros are handled per year.

This new “central bank” could start its activities “very soon”, announced in a statement Emilio García Silvero, FIFA’s legal director, while its role as a payment institution needed the approval of the Authority for Prudential Control and Resolution (ACPR), given the on the 23rd of September.

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The creation of a Clearing House for transactions between clubs is part of a broader reform of the contracting market, in the process of adoption, which includes recovering an agent’s license and regulating its commissions.

At first, the structure installed in FIFA’s new Paris office, inaugurated in June 2021, at the Hôtel de la Marine, should focus on payment – training compensation and solidarity mechanism – to training clubs.

According to FIFA, a large part of the remuneration provided by the training clubs is not received because these transactions are not centralized. The entity estimates at around US$ 400 million (R$ 2.1 billion) the amount that should be distributed each year to the training clubs, which currently receive “between US$ 70 million and US$ 80 million”.

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Source: Gazetaesportiva

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