Three South Korean clubs penalised for third party ownership
Third party ownership has been banned by FIFA.
Three South Korean second tier clubs have become the first in the country to be penalised for breaching FIFA rules on third-party ownership (TPO) of players, Yonhap News reported on Friday.
Bucheon FC 1995 and Daejeon Citizen FC were fined 10 million won ($8,102.55), while Gyeongnam FC were given a warning by the K-League, the report said.
Yonhap added that the Korean Football Association could impose further sanctions on the three clubs and also punish the agents involved.
In May, world governing body FIFA, who will elect a new president in Zurich later on Friday, banned TPO.
TPO involves a player's economic rights being owned by a third-party, such as an agent or sports management firm who may help cover a young player's development costs and later benefit from a percentage of any transfer fees.
On Monday, the world governing body threw out an appeal from Belgium club Seraing who were hit with a four window transfer ban after breaching TPO regulations and third party influence rules.