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Soccer Hedge Fund Betting on Players Gets Global FIFA Ban

Soccer’s world ruling body FIFA will ban investors from buying the transfer rights of players from teams, a booming sector that has led to more than $1 billion of transactions.

FIFA President Sepp Blatter told a televised news conference in Zurich today that a committee would oversee a transitional period during which the practice will be phased out. That period will last about “three or four years,” FIFA General Secretary Jerome Valcke told reporters.