FIFA chairman Sepp Blatter has announced that FIFA has accepted transfer fees for player over 24 years of age are a thing of the past. Blatter said today: "In our minds we have already taken the position that we have to look at a new system. We have to find a solution and look at the consequences of the decision we make. That is why we need to receive more time from the European Commission."
The European Commission have long been concerned that transfer fees restrict a player's freedom to move from job to job.
It seems it has been agreed that which would see the international transfer of players under 18 will end and that there will be the introduction of a compensation package for players under 24.
Players over 24 will sign one year contracts during a transfer window every season. How this will affect clubs as yet we have no idea, but we are certain a lot more will be heard on this as the weeks and months move along.