Clubs spent record US$888 million in agent service fees in 2023: Fifa
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
SOCCER clubs paid a record US$888.1 million in agent service fees in 2023, an increase of 42.5 per cent on the previous year, world governing body Fifa said in its annual “Football Agents in International Transfers” report released on Thursday (Dec 14).
The previous record was in 2019 when worldwide spending on commissions to agents involved in the international transfer of players was US$654.7 million. The 2022 amount was US$623.2 million.
English clubs were the biggest spenders by far this year with a total outlay of more than US$280 million, while 86.6 per cent of the worldwide expenditure came from European clubs, Fifa added.
Saudi Arabian clubs went on a spending spree this year, splashing out almost one billion US dollars in the transfer window to lure top players from Europe and they had the second-biggest expenditure on engaging club agents at US$86 million.
“The number of international transfers with an agent acting on behalf of the player reached a record high in 2023 with a total of 3,353 transfers,” Fifa said in its report.
“This corresponds to 15.4 per cent of all transfers and represents an increase of 8.4 per cent compared to 2022.”
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
In a first for women’s soccer, professional clubs spent more than US$1 million in agent service fees, with the total reaching just under US$1.4 million.
Agents have been at loggerheads with Fifa after they lost an appeal in July to block new regulations that would cap their transfer commissions and introduce exams to secure a licence.
Fifa said it received 19,973 licensing applications this year with 9,207 taking the exam, which 32.6 per cent passed.
However, an English FA tribunal set up in June ruled earlier this month that the proposed Fifa regulations are incompatible with British competition law. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
