Spanish, Portuguese Football Leagues File Complaint To EU On FIFA Finance Ban

Spain and Portugal’s football leagues "filed a complaint to the European Commission challenging a FIFA ban on clubs selling the transfer rights of players to investors," according to Alex Duff of BLOOMBERG. European Commission spokesperson Ricardo Cardoso said that the EC "received a complaint related to FIFA plans to stop so-called third-party ownership, without identifying who filed the document." People familiar with the situation said that Spanish and Portuguese league officials "traveled to Brussels to lodge the complaint." They "asked not to be identified because the leagues still need to complete the submission of other documentation." The leagues "are receiving assistance from lawyers including Jean-Louis Dupont." Atlético Madrid and Porto "are among teams from the south of the continent that have turned to TPO deals since the financial crisis began in 2008." Banks including Bankia SA "have reined in their overdraft facilities to all but the biggest clubs because of tighter credit rules" (BLOOMBERG, 2/4).