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CLUB TRANSFER: HOW IT WORKS IN FOOTBALL

Once you login to your iLOT account, it takes a click to transfer your money into your bank account. Read on to know more.


Once you login to your iLOT account, it takes a click to transfer your money into your bank account. Read on to know more.

A player signs a contract with the club, say for 5 years. Then the player will get a salary as mentioned in the contract for the next 5 years as he will continue to play for the club. In case another club wants that player, the player would have to break his contract, and the original club demands money to break the contract, which is paid by the second club. Every club has to assign a buyout clause for every player; this is the amount of money the club demands to break the contract. In some cases, even if the buyout clause is met, the club has the right to reject the demand. The two parties will then keep going backward and forward until they negotiate a fee. Clubs may also contact an agent to work on their behalf and ask them to find a buyer for a particular player. An agent might also speak to a club that decides that for whatever reason it is in the best interests of a player to leave. An agent would be given permission to speak to other clubs and given a specific fee the sellers have in mind for the player.

 

Take a summary example with the case of Lionel Messi. Xavi has made it clear on a number of occasions that he would welcome Lionel Messi back to Barcelona with open arms if the opportunity arose. According to Veronic Brunati, the two Blaugrana legends will be reunited at Camp Nou next summer. The 35-year-old’s PSG contract is set to expire at the end of the season and, while there is a desire from the club to extend it, the player himself hasn’t made a decision. However, the agent is there to secure the best possible deal for his client and this can take a little time. Professional and financial issues will be taken into consideration such as: whether the player is going to play, the wage, and the length of the contract. It is a bit of negotiation and compromise. The agent wants to realize a player's value to a club while the club will be looking to minimize their outlay as much as they can. If the player is of a certain level the club will be prepared to offer him a better package than for a less valuable player.

Issues that arise in the negotiation process include:

•An adjustable salary: This would see an increase in salary year-on-year and after a certain number of appearances.

•A signing-on fee: This is a payment the player gets for signing for a club, although this may vary and depend from league to league. At the larger clubs, the player gets a payment when signed and then a fee split over a couple of years.

Once everything is sorted certain documents need to be lodged with the relevant authorities for the transfer to be approved and registered. Documents are lodged with: The Football Association and Premier League if the transfer involves a player moving to a Premiership club. The Football League and FA if the transfer involves a player moving to a Football League club. The documents include the transfer documentation, the financial agreement between the two clubs, the player’s contract, the player’s registration, the player’s bonus schedule, and any forms relating to agents.

On your iLOT BET account, click transfer, select the bank you want to transfer your money to, and indicate the amount, and the account number. The next tone that comes on your phone is an alert; yes iLOT BET did the transfer into your bank account. No long stories, documents, or agents are necessary to get your transfer done between you and iLOT BET.


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