FIFA’s Paris finance house to steer transfer cash to clubs

ZURICH (AP) — French financial regulators have cleared FIFA to start processing hundreds of millions of dollars from transfer fees owed to smaller clubs who nurture players. The FIFA Clearing House is a long-standing project now based in Paris. It’s designed to help clubs get their rightful share of future transfer fees involving players they developed. FIFA believes only around $70-80 million has been distributed each year to players’ former clubs when up to $400 million was due. FIFA thinks smaller clubs were often unaware how to claim money in a part of the often murky global transfer system designed to help them.