Global Transfer Market

Transcription

1 Global Transfer Market 211 FIFA Transfer Matching System GmbH Zollikerstrasse Zurich Switzerland Tel.: +41-() Fax: +41-()

2 2 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET FOREWORD Welcome to Global Transfer Market 211, the first FIFA Transfer Matching System (TMS) annual review of the international transfer market. As you may know, in 27 the 57 th FIFA Congress voted to create an online system for international professional football transfers as one of the recommendations of the FIFA Task Force For the Good of the Game. The objective of the Congress decision was to increase integrity and transparency in the transfer market, notably by ensuring that football authorities have more data available to them on each and every transfer transaction. The system is also used to enforce FIFA s rules on the protection of minors in transfers. Since the programme s inception on 1 January 28, national football associations and professional football clubs worldwide have been trained to use the system to conduct international transfers. In September 29, the first ever electronic international transfer certificate was generated through TMS, allowing player Jean-Joel Perrier to transfer from Scottish side Celtic to Toulouse in France. 1 Finally, after a one-year transition period, the use of TMS became mandatory for all international transfers of professional male footballers on 1 October 21. commentary on the professional international transfer market. With all 28 FIFA member associations and over 5, football clubs currently using the system, we are confident that the information contained in these pages will provide unique insight into the global football market, and have a great impact on our understanding of the game in all its diversity. This could not have been achieved without the full participation of all member associations and clubs, and we would like to thank them for their continued support of the programme. I hope you will enjoy this inaugural edition of Global Transfer Market. If you have any feedback or suggestions please use the contact details at the back of the report to get in touch with us. As a result, and now that the first full calendar year of operations has drawn to a close, we are extremely pleased to be able to present, for the first time, information and 1 Transfers to receive transparency, 26 February 21, Mark Goddard General Manager FIFA Transfer Matching System GmbH

3 4 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET INTRODUCTION What is TMS? The transfer matching system (TMS) is an online application used by football clubs and national associations worldwide to transfer professional players internationally. The system works by matching data provided by the transferring clubs, such as the player s identification and employment details, agreed transfer fees and agent involvement. Based on this information, national associations use the system to request and deliver international transfer certificates (ITCs) electronically. The ITC will allow the association to which the player is transferring to register him, so that he can participate in official matches for his new club. What information will I find here? The information contained in Global Transfer Market 211 is exclusively based on individual transaction data provided directly by professional football clubs in TMS. It has been aggregated and anonymised in accordance with our applicable data protection policies. The transfer market data concerns only international transfers of professional male football players within the scope of 11-a-side football. The data does not cover domestic transfers, nor does it include players registered as amateurs. The only exception is the data on minors, which also includes amateurs and female players. 2 This edition of Global Transfer Market covers completed transfers entered in TMS between 1 January and 31 December 211. A completed transfer is one for which an ITC has been received by the national association to which the player is transferring. The term transfer refers to the movement of a player s registration from one association to another and includes out-of-contract players being engaged by clubs in a new association, and agreements between clubs to transfer the player s registration either permanently or temporarily (loans). 3 All amounts are expressed in US dollars. What s next? Thanks to TMS, football authorities have access for the first time to global, directly reported data on the transfer market. Global Transfer Market 211 presents aggregated information from the first year of mandatory use of the system. As additional information is entered in the system and we continue to work to enhance the integrity and usability of the data, future editions will be able to provide unparalleled insight into the evolution of the global market for international football. Football and transfers are deeply affected by globalisation, and the use of new technologies allows clubs to respond to the demands of international business ASEC Mimosas, Côte d Ivoire 2 Under FIFA rules, a minor is a player under the age of Loan extension agreements and agreements to transfer a player permanently at the end of a loan are also entered in the system, but are not counted as a transfer for the purposes of this report as there is no player movement.

4 6 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET THE 211 INTERNATIONAL TRANSFER MARKET Four things you may not have known about transfers Every year, transfers populate the front pages of the sports media around the world. The movements of globally recognised players triggering the payment of millions in transfer fees are diligently tracked and analysed. But these transfers constitute only a small piece of the puzzle the 12% Engage player on loan 8% Return from loan reality of the market is very different. 1. There is a transfer being concluded every 45 minutes The size of the international transfer market is much greater than the few dozen or even the few hundred transfers 1% Engage player 7% Engage out of contract that may attract the attention of journalists. Between 1 January and 31 December 211, over 11,5 international transfers of professional footballers were recorded in TMS. 4 That is an average of 31 transfers a day, if transfers Figure 2: Transfers by type were distributed evenly across the year. But as we can see in Figure 1, this is not the case. While there is always a transfer being concluded somewhere on the planet on 2. Most players are transferred when no longer under contract Transfers 3, any given day, transfers are highly concentrated during the months of January, July and August. Those three months alone account for over 6% of all transfers conducted in The second insight we can draw from the data relates to the type of transfers being processed in TMS. When most people think of transfers they think of an agreement between two 2,5 2, 211. This is explained by the fact that the highest number of associations have open registration periods (so-called transfer windows ) at this time (see What is a registration clubs. Yet 7% of the transfer activity in TMS concerns an out-of-contract player signing with a new club as a free agent (Figure 2). In over half of these cases, the player s 1,5 1, period? below). On 31 August, the busiest transfer day of the year, 317 transfers were closed in a mere 24 hours. last professional contract had expired. The remaining cases concern players whose contract was terminated early (3% of free agent signings) or players previously registered Figure 1: Monthly transfer activity in January February March April May June July August September October November December 4 An additional 165 loan extensions or loan-to-permanent agreements were conducted through TMS over the same period. as amateurs (15%). When there is an agreement between clubs for the transfer of a player, two-thirds of the time the transaction is a loan (either outgoing or returning). This means that only 1%

5 8 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET ,4 1,2 12% Outgoing Incoming 1, 8% 8 6 7% 6% 6% 4 Figure 3: Transfer activity: top five associations 2 of all transfers constitute a club-to-club agreement for the permanent move of a player, i.e. approximately 1,1 transactions in The transfer market is dominated by a handful of associations While there are 28 FIFA member associations, all using TMS, only a few associations are responsible for the majority of the transfer activity. Fifty per cent of all incoming transfers (players coming into a particular association) are spread between only 24 associations, and the top five associations by volume of incoming transfers cover by themselves 18% of the overall activity. Figure 3 shows the top five associations by volume of total transfers, that is, players coming in and players leaving the association. 5 We can see that one single association is very much the market leader in the transfer of professional footballers, with more than 1,35 individual transactions per year, representing 12% of all international transfers worldwide. 4. International transfers involve big money sometimes As one of the means of improving transparency in the market, TMS requires clubs to input all financial information 5 The five associations are not named, in application of current data protection policies. Association 1 Association 2 Association 3 Association 4 Association 5 related to their transfers. An individual transfer can involve one of four different types of payments: Agreed transfer compensation: the fixed sum agreed between two clubs for the transfer of a player (as in, Player is transferred from Club A to Club B for USD 1 million ); Conditional transfer compensation: a variable amount that the player s new club may end up owing to the former club, generally dependent on the player s performance during his tenure with the new club (as in, If Player makes more than 4 appearances for Club B, Club B will pay Club A an additional USD 25, ); Training compensation and solidarity contribution: both are intended to offset the cost of training a young player, but: Training compensation is calculated based on indicative training costs and paid by the player s new club to his former club; while Solidarity contribution is calculated as a percentage of the agreed transfer compensation amount and is distributed between all the clubs that trained the player up to the age of 23 In 211, over USD 3 billion in financial compensation was declared in TMS by transferring clubs. 6 Eighty-two per cent 6 Exchange rates taken on the day the transfer was completed. An additional USD 1 million was reflected in TMS in relation to loan extensions and loan-to-permanent agreements. In 211, over USD 3 billion in financial compensation was declared in TMS by transferring clubs. p 1% Solidarity contribution 7% Training compensation 82% Agreed transfer compensation 1% Figure 4: Financial compensation in international transfers Total: USD 3 billion Conditional transfer compensation

6 1 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET of this amount constitutes agreed transfer compensation. Taking a closer look at the agreed transfer compensation figures over the year, we find that the average amount of agreed transfer compensation is over USD 1.5 million, while the median is only USD 2,, 7 which means that a few transfers with very high dollar amounts are skewing the average most transfer fees are actually relatively low. Moreover, financial compensation of any kind is only at issue in less than 14% of transfers. In the remaining 86% of cases, the transfer is conducted without any money changing hands. Introducing the professional player Transfers in TMS concern only professional male footballers. Clubs must provide details about these players when conducting transfers internationally through the system, allowing us to paint a picture of the typical professional player. So who is he? According to the data, the typical professional footballer is 23, Brazilian, and not paid as much as you would expect. Players peak at 23 It does not come as much of a surprise that most international transfers concern players in their early to mid-twenties. Over 5% of professional players transferred 7 The median represents the numerical value separating the upper half from the lower half of a sample. internationally are aged between 22 and 27 at the time of their transfer, and over 75% are 27 or under (Figure 5). Players do continue to be transferred internationally to play professional football well into their thirties, but the numbers taper off significantly over 35. The oldest player transferred internationally in 211 was born in 1965, and therefore aged 46 at the time of his transfer. On the other side of the scale, very young players are also transferred internationally as professional footballers, although most minors retain amateur status until they reach 18 (see Lifting the veil on the movement of minors below). Professional players under the age of 18 were the object of only 1% of international transfers in 211. Brazilian players are the most sought-after International transfers of professional players are heavily skewed to a few dominant nationalities, with Brazilians and Argentinians together making up 2% of transfers this year (Figure 6). Brazilian nationals alone account for 13% of transfers in 211, or more than 1,5 individual transactions. These include transfers of Brazilian nationals into and out of Brazil as well as between foreign associations. Two other South American countries are represented in the top ten nationalities, namely Uruguay and Colombia. The most transferred European nationals are from France, Serbia, England, Spain and Portugal, while Nigerians are the most represented from the African continent with 3% of international transfers. Transfers 1,2 1, 8 On 31 August, the busiest transfer day of the year, 317 transfers were closed in a mere 24 hours. 6 4 Figure 5: Age 2 distribution of players in international transfers Player age

7 12 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET Transfers by the very high median salaries there indeed the Asian compensation for a player transferring there amounts to 1,6 1,4 13% association sampled had the highest median salary overall, at USD 24,. This is not the whole story, however. Football salaries 5% of his fixed salary. 1 In another association, located in South America, the effect of the variable component on a player s total salary is much 1,2 also typically contain a variable component based on less significant. Here, conditional compensation is calculated 1, 8 7% the performance of either the player or the club, or a combination of the two. Contracts reviewed include incentive schemes based on criteria such as: exclusively based on club performance (points won per match and qualification in national and international tournaments) and the likely increase in salary through the 6 Number of appearances by the player during the season; incentive scheme is typically below 1% % 3% 3% 3% 3% 2% 2% 2% Points earned during a match in which the player appeared; Club position in the league table; Finally, it is worth noting that while average and median football salaries are lower across the board than what sports fans might expect, a comparison with GDP per capita 11 still Brazil Argentina France Uruguay Colombia Serbia Nigeria England Player nationality Figure 6: Top ten represented nationalities in international transfers Spain Portugal Club qualification for competition or promotion to higher division. Just as with fixed salaries, all associations are not created equal with respect to conditional compensation. In one of the Western European associations sampled, the average player could potentially make up to four times his salary in conditional compensation, and average conditional shows that footballers generally enjoy a higher standard of living than most (particularly in Western Europe and Asia) (Figure 8). 1 Determined using simple assumptions regarding average player and club performance. 11 International Monetary Fund, World Economic Outlook Database 211, figures for 211 in USD. The myth of the millionaire player debunked Salaries also diverge significantly across associations. Any player who has a written contract with his club Figure 7 shows the average and median salaries in the and earns more than it costs for him to play football is considered a professional football player by FIFA. Thousands ten associations reviewed, as well as the deviation from the global average and median salary. All three Western USD of such players are transferred from one association to another through TMS, and yet practise their profession far away from the glitz and glamour that fans usually associate with international professional football. European associations in the sample have averages above the global average. But the difference even within Western Europe is great. Western European association 1 has by far the highest average salary at USD 675,, but also the 7, 6, Average salary Median salary Based on a sample of players 8 transferring into ten different associations in different parts of the world, we estimate that lowest median salary in the region, indicating that the range of salaries in this association is extremely wide and that the 5, the average annual fixed salary for a professional football player is around USD 244,. 9 This average, however, is heavily skewed upwards by a small number of extremely high salaries. Most footballers make significantly less than distribution of salaries is significantly skewed. A few players earn very large sums of money while half of the players earn an annual fixed salary of less than USD 83,. By comparison, salaries in Western European association 2 are 4, 3, Global average USD 244, this average figure, as demonstrated by the fact that the median salary is a mere USD 43,. This means that half of the professional footballers in the sample earn more than USD 43, a year and half of them earn less. Global somewhat more evenly distributed, with a high median salary of USD 196,. Meanwhile, average salaries in Western European association 3 are significantly lower than in the other two, at barely above USD 325, (less than half of 2, 1, Global median USD 43, salaries are therefore not distributed evenly but concentrated at the lower end of the scale with a significant range from the average salary in Western European association 1 ). Analysis suggests that this may be at least partly explained by the low four digits to multi-million dollar amounts. 8 Sample size n=6 per association, except the African association where less data was available and therefore n=36. 9 All amounts are provided in USD, based on the annual average exchange rate. the origin of the players transferring into this association. The data also goes some way to explaining the attractiveness of players from South America, where median salaries are among the lowest in the world. The growth of professional football in emerging markets such as Asia is also supported Western Europe 1 Western Europe 2 Western Europe 3 Figure 7: Average and median football salaries Asia Eastern Europe South America 1 South America 2 North America Africa Middle East

8 14 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET USD 7, 6, 5, Average salary Median salary GDP per capita Median commission USD 8, 4, 3, 2, Average commission USD 24, 1, Western Europe 1 Western Europe 2 Western Europe 3 Asia Eastern Europe South America 1 South America 2 North America Africa Middle East 1, 5, 1, 15, 2, 25, 3, 35, 4, 45, 5, 6, 7, 8, 9, 1,, 1,5, 2,, 3,, 4,, Figure 8: Football salaries compared to GDP per capita Figure 9: Distribution of club agent commissions in international transfers Agents reap the benefits of international transfers contractual stability between professional players and clubs. Clubs are required to enter information relating to agents It is up to each national football association to set its own when processing an international transfer through TMS. They should declare the involvement of agents assisting them in relation to the transfer, as well as the name of any agent assisting the player. Commissions paid to club agents must also be disclosed in the system, but not those registration periods, but they must meet certain criteria: There can only be two registration periods per year; One of the registration periods must fall between two seasons and cannot be longer than 12 weeks; The other will occur during the season (usually in the 6 5 OFC CONMEBOL AFC commissions paid by players to their own representatives. In 211, clubs disclosed a total of USD 13 million in club agent commissions. Figure 9 illustrates the distribution middle) and lasts up to four weeks. There is no rule that requires football associations to set matching registration periods, and we notice that there 4 CONCACAF CAF of those commissions in 211. The average club agent commission is around USD 24, (compared to an are indeed differences across the globe. On any given day of the year, a national association somewhere in the world 3 UEFA average transfer value of USD 1.5 million), while the median commission comes in at around USD 8, (compared to a will have on open registration period. However, there is a tendency towards harmonisation, particularly within the 2 median transfer value of USD 2,). same confederation. Naturally, the more open transfer What is a registration period? windows there are during an association s registration period, the more business opportunities will be available to 1 According to FIFA s rules, players can only be transferred that association s clubs. during one of two annual registration periods (commonly Figure 1 shows the number of associations with an open referred to as transfer windows ). This rule exists in order to guarantee the sporting integrity of national and international competitions between clubs, which may only modify their registration period during each month of the year. The alignment of periods around January and July/August is evident, driven by UEFA with its 53 associations but January February March April May June July August September October November December squads at two specific times of the year. The rule also increases extending beyond to other confederations. Figure 1: Open registration periods by confederation

9 16 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET PROTECTING THE RIGHTS OF MINORS IN TRANSFERS While TMS is known mostly for its impact on international professional transfers, since October 29 it also plays a key role in protecting the rights of players under 18, both boys and girls, amateurs and professionals. The key, underlying belief is that increased transparency and access to data on the movement of young players will mean greater protection for those that need it most. The four exceptions to the rule are: The minor s parents are moving to another country for a reason not linked to football; The transfer is within the European Union (EU) or the European Economic Area (EEA) and the player is over 16 (and certain stringent conditions are met, such as the level of academic and football training); Tackling old problems for young players Typically, the mention of transfer of minors evokes one of two images: either the horror story of the exploited child, or the success story of the young prodigy. Most cases, of course, fall in neither category. But in all instances it is clear that players under the age of 18 are a vulnerable population that needs to be protected. FIFA s role is to manage the careful balance between preserving a child s chances of having a successful footballing career and safeguarding the interests of the overwhelming majority that will never achieve that dream. This is why FIFA s regulations generally prohibit the international transfer of minors, or the first registration of foreign minors in an association. The purpose behind this rule is to keep children at home, playing with their original training clubs until they turn 18 and are old enough to make decisions about their future. However, exceptions to this rule are necessary to ensure that promising youngsters do not miss out on opportunities Player age Figure 11: Age distribution of minor players in transfers

10 18 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET Professional Amateur In 211, over 13, international transfers or first registrations of foreign minors were reported or requested by associations around the world. 2 1 Common border Parents move EU/EEA 5 years residence Figure 12: Requested exceptions for minor transfers In fact, the data seems to show that the issue of minor transfers is, in general, very much focused around the European continent. As we saw above, 9% of reported minor transfers are covered by the exemption applicable to 22 associations, most of which are European. Moreover, if we look at the top ten most represented nationalities among the 1,5 individual applications, we see that nine of them are from the European continent (the exception being, unsurprisingly, the ever-popular Brazilians) (Figure 13). FIFA has been working for many years to ensure that children all over the world receive adequate protection and equal opportunities, and progress continues to be made in that area. Access to information through TMS constitutes a vital part of this process. The minor s home and the club are both within 5km of a common border; or Lifting the veil on the movement of minors In 211, over 13, international transfers or first 16 The foreign minor has been living for at least five years in the country where he wishes to be registered for the first registrations of foreign minors were reported or requested by associations around the world. Almost 9% of these 14 time. Since October 29, the application of these exceptions has were covered by the limited exemptions, while around 1,5 individual applications were submitted to FIFA. Only 1% of 12 been controlled by FIFA through TMS, in one of two ways. First, through individual requests for an exception, processed all the minors considered were professionals (just under 11% of the individual applications). 1 in TMS and decided on a case-by-case basis by a specialised committee. Second, for 22 associations (mostly located Focusing now on the individual applications, we can see that although applications can be made for children from the age 8 in Europe) through a limited exemption that applies only to amateur players joining strictly amateur clubs and that of 12, 45% of the applications concern players aged 16 or 17 (Figure 11). 6 requires all registrations to be reported in TMS at regular The most popular reason supporting applications for minor 4 intervals. 12 In this way, TMS ensures that young players transfers is that the child is following his or her parents who worldwide receive equal protection. have moved to a new country for reasons other than their 2 12 These 22 associations have submitted a specific request to benefit from the limited exemption. The exemption applies for a fixed time period only but can be renewed. child s potential football career (Figure 12). When it comes to those players under 18 who are professionals, however, the vast majority are relying on the rule allowing players over 16 to move within the EU or EEA. This would tend to indicate that the phenomenon of the young superstar is very much a European story. Albania Brazil France Portugal Netherlands England Figure 13: Top ten represented nationalities in minor transfers Romania Belgium Hungary Germany

11 2 GLOBAL TRANSFER MARKET 211 GLOBAL TRANSFER MARKET COMPANY ACTIVITIES Information workshops for national associations were held around the world between March and May 211 in order to revisit the main TMS functionalities and educate users on their regulatory obligations, but mostly to allow association users of TMS to share their experiences with each other and with the team. The feedback received was overwhelmingly positive, and the workshops had a visible impact on user performance in the system. Similar courses will be organised in the future to capitalise on these results and address the needs of TMS stakeholders. TMS is operated by a subsidiary of FIFA set up in 28, FIFA Transfer Matching System GmbH. The company is responsible for developing and maintaining the online application, and ensuring that all FIFA member associations and their professional clubs receive the proper training and support to conduct their transfers through the system. The company is also in charge of monitoring and enforcing the use of TMS in accordance with FIFA s regulations. The three departments of FIFA TMS GmbH work closely with all football stakeholders to guarantee a transparent and efficient transfer market. Client Services A dynamic group of international and multilingual individuals, the Client Services team supports and educates TMS users worldwide on all transfer-related matters. The team was responsible for training member associations and their clubs prior to the 1 October 21 milestone, and offers a dedicated helpdesk service for all users. Service Level Guidelines issued this year demonstrate the team s commitment to offering a timely and efficient service to all associations and clubs. In 211, 6,65 requests were received by the Client Services Helpdesk, with peaks of activity around January and July/August. Ninety-five per cent of these requests were answered within the time specified by the Service Level Guidelines. In 212, the team expects to be able to further improve on this achievement. The Client Services team also works to support the development of the TMS user community and foster communication and experience sharing among stakeholders by organising regular refresher and information courses on TMS. Integrity & Compliance At the end of 211, the Integrity & Compliance department of FIFA TMS GmbH celebrated the first full year of enforcement of the TMS system. This team of lawyers and investigators was set up in October 21 to ensure that transfers are properly conducted through TMS and to prevent the system from being used in contravention of the principles of integrity and transparency that TMS seeks to promote. The Integrity & Compliance department provides education and advice to clubs and national associations on how to comply with their regulatory obligations with respect to international transfers. The department also relies on its broad investigation powers to monitor, correct and sanction non-compliant behaviour by clubs and associations. At all times, the team works in an integrated manner with FIFA departments as well as external parties to ensure that the international transfer market operates smoothly and fairly. TMS allows clubs and associations to transfer players quickly while guaranteeing transparency KNVB Requests 1,2 1, Transfer activity Helpdesk activity 2 January February March April Figure 14: Helpdesk monthly activity in 211 May June July August September October November December

12 22 GLOBAL TRANSFER MARKET 211 Several compliance initiatives adopted this year have already yielded very positive results. It is worth highlighting the team s participation in workshops to improve associations understanding of FIFA regulations (see Client Services above), as well as the introduction of a new, streamlined sanction procedure to quickly and efficiently deal with minor infringements that may have a major negative impact on transfers. The work of the team directly benefits all actors in the international transfer market, notably by ensuring that better, more reliable information is available to all parties and to the wider public. From a club perspective, the ability to rely on accurate information and the comfort of knowing that transfer market regulations are systematically and equitably enforced are important factors in increasing trust and transaction efficiency across the board. The international transfer market is highly dynamic and volatile, and constantly raises new legal challenges. Throughout 212 and beyond, the Integrity & Compliance department will continue its efforts to deliver transparency to the market through broader, more in-depth investigations and improved education initiatives. Application Management The focus of the Application Management team during 211 was on the redesign of TMS. It has been over four years since the original system was developed and now that global implementation is complete, there is at last time to step back and take stock of what has been built. The redesign project is intended to achieve three key objectives: To improve usability. A recurrent theme in the feedback received from associations and clubs that use TMS is the usability of the system. Since the average football club only uses TMS occasionally, the redesign aims to improve user-friendliness so that all clubs find the system intuitive and easy to interact with. To enhance security features. In 211 alone, the details of over 11,5 transfers were entered into the system, each supported by confidential documents. TMS is hosted by a leading infrastructure provider whose ISO certification ensures that the necessary processes are in place to protect all of this sensitive information. The company is very conscious of its users need for privacy and as part of the redesign project steps are being taken to guarantee that the system itself keeps pace with the evolving threats to online applications. To migrate to state-of-the-art technology. As well as addressing security issues, the latest technologies provide a broader range of tools to make TMS more responsive and engaging. As part of the project, FIFA TMS GmbH welcomed a focus group of seven clubs and six national football associations to Zurich in May for a formal feedback session. The feedback received has proved to be extremely useful in shaping the way the new system will look. The first functionalities of the new system will be released in April 212, and all associations and clubs will have transitioned to the redesigned TMS by 1 November 212. Publisher: FIFA Transfer Matching System GmbH Zollikerstrasse Zurich, Switzerland globaltransfermarket@fifatms.com General Manager: Mark Goddard Editor: Isabelle Solal Contributors: Jose Luis Andrade, Ana Isabel Belzunce, Zora Born, Laura Dijak, Alexandre Gros, Sonia Gusella, James Holroyd, Nadia Masella, Hélène Valat Graphics: Jonas Kämpe Photos: Getty Images Layout and production: Serge Born, Hans-Peter Frei, Stephan Scholz, Linda Schwartz Translation: FIFA Translations Printing: Vogt-Schild Druck AG, Switzerland Contact: To provide feedback or to order additional copies of Global Transfer Market 211, please use the postcard provided or contact: 5 March 2 April 4 June 1 October Training begins New system goes live for clubs Figure 15: 212 timeline for redesigned system All clubs are using the new system New system goes live for associations 1 November All users are on the new system FIFA Transfer Matching System GmbH Zollikerstrasse Zurich, Switzerland globaltransfermarket@fifatms.com An electronic version of Global Transfer Market 211 is also available at Global Transfer Market 211, including all images, trademarks and text therein is exclusively owned by FIFA Transfer Matching System GmbH, except as otherwise provided. The reproduction of photos and articles even partially is prohibited unless permission has been sought from the publisher and a reference is made to the source. Any views expressed in Global Transfer Market 211 do not necessarily reflect those of FIFA Transfer Matching System GmbH or FIFA. 212 FIFA TMS. All Rights Reserved.