Posted: Thursday January 31, 2013 6:29 AM

Argentine, Italian clubs fined over transfer deal

Decrease font Decrease font
Enlarge font Enlarge font

ZURICH (AP) -FIFA has fined Argentine club Independiente and Italian club Genoa for breaking transfer rules in a blocked deal for defender Julian Velazquez.

FIFA says both clubs' behavior "stains the credibility of the entire transfer system.''

They agreed that Genoa would pay a "significant'' amount to Independiente to complete mandatory documents which FIFA insists should be free of charge in its Transfer Matching System.

Genoa also failed to submit documents to FIFA's online process, which seeks to ensure fair dealing and financial transparency in the billion-dollar annual transfer market.

FIFA says its disciplinary panel fined both clubs 35,000 Swiss francs ($38,400).

FIFA says Independiente faces further disciplinary action, and Genoa has been warned about future conduct.

The 22-year-old Velazquez has stayed in Argentina as FIFA stalled the transfer since Aug. 31.

 
SI.com
Hot Topics: Washington Wizards Albert Pujols Mock NFL Draft Drake Russell Allen Toronto Raptors
TM & © 2014 Time Inc. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Read our privacy guidelines, your California privacy rights, and ad choices.
SI CoverRead All ArticlesBuy Cover Reprint