(CelebrityAccess) — The International Association Football Federation (FIFA) announced that new regulations governing the football agent’s business will go into effect on January 9th.
The regulations, which were adopted by FIFA in December, seek to impose new professional standards on football agents and their clients, including a new mandatory licensing, the prohibition of multiple representation to avoid conflicts of interest and the intoduction of a cap on agent fees.
According to FIFA, the new regulations are intended to foster a transition to a more equitable and transparent football transfer system.
The new FIFA Football Agent Regulations (FFAR) will go into effect officially on January 9th but there will be a transition period for the obligation to only use licensed football agents and the cap on agent fees, which will happen on 1 October 2023, FIFA said.
The FFAR were approved by the FIFA Council at its meeting in Doha in December 2022 and follows period of consultation with key football stakeholders, the organization said.