FIFA President Gianni Infantino has called for the football industry ”at all levels” to introduce salary and transfer fee caps in a desperate attempt to relieve the sport’s current financial pressures.
The financial impact the unprecedented COVID-19 pandemic has had on football and it’s clubs has been widely reported in recent times.
With competitions and leagues all across the world either cancelled or postponed, the uncertainty clubs are facing is causing wide spread commercial disruption.
Infantino has now spoken out regarding the sport’s financial crisis, calling for previously un-heard of measures; salary and transfer fee caps.
As reported by Sky Sports News, the FIFA boss said in an open letter to the establishment’s members: “On the financial and governance aspects, I also heard some interesting proposals on a wide range of topics.
“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.”
Although FIFA do have plans to fund and launch a financial rescue package for every area of the game, this has yet to be finalised.
Infantino went onto say: “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,
“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.”
With Premier League football planned to follow the German Bundesliga’s lead and resume as soon as mid June, the FIFA President has reiterated his concerns that until a successful COVID-19 vaccine is found, football is going to be ”very different.”
Stretty News assessed the financial impact of the COVID-19 pandemic in an earlier report.