FOOTBALL AGENCIES are reportedly set to lose fortunes in owed fees following the continued economic uncertainty surrounding the coronavirus outbreak.
SunSport revealed Premier League chiefs are already looking at ways of ripping up players’ contracts in the financial crisis as a way to slash costs.
Several football agents are owed money for their roles in completing January transfersCredit: Getty Images – Getty
And agents stand to lose hundreds of thousands themselves, with a host of lower-level intermediaries facing the prospect of going out of business.
The Daily Mail claim one figure has been forced to write off a £3,000 fee that a League One side owe him because he knows the club cannot pay him.
Agents are not officially recognised as football creditors and thus receive little protection for money owed by clubs for deals completed in both the summer and January windows.
As the game’s most controversial figures, clubs don’t view paying them as a priority considering that they don’t have to if they are sent into administration.
Teams are obliged to shell out relevant agent fees and paperwork to the FA to ratify before the money is forwarded onto the representatives.
Yet agents are now fearing they will not receive what is owed to them with clubs accused of delaying the process during the EFL’s current financial crisis.
Intermediaries that attempt to pursue legal processes or have teams wound up also risk alienating officials from ever working with them again.
Meanwhile, many clubs know they will lose fortunes if there is no TV cash — and see the Covid-19 outbreak as a time for drastic measures.
Swiss side Sion axed NINE players, including former Arsenal stars Alex Song and Johan Djourou, after they failed to sign up for reduced terms.
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Scottish side Hearts have asked for voluntary 50 per cent pay cuts from players and staff — but if those are not agreed they may have to go further.
World union FIFPro are actively lobbying against such moves.
Earlier in the week, the Premier League agreed to extend the season indefinitely with an initial date of April 30 set for play to recommence.
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Premier League stars ready to REVOLT as they fear fixture pile-up as ruthless clubs look to tear up contracts to slash costs
Source: Soccer - thesun.co.uk
