FIFA processes $3B in player transfers in 2011

Associated Press SHARE

ZURICH (AP) — FIFA says it processed international transfer deals worth $3 billion in 2011, and will share payment details with UEFA to help monitor European financial fair play rules.

FIFA says 11,500 players made cross-border moves in the first calendar year operating its Transfer Matching System, which aims to curb money laundering and corrupt deals.

The mandatory online project requires buying and selling clubs to input matching information, including payment schedules, before a transfer is approved.

FIFA says more than 1,500 Brazilian players were transferred internationally last year.

The average transfer fee across all deals was $1.5 million.

The figures exclude players moving between clubs in the same country.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.