Punjab FC has received the necessary clearance from FIFA to resume transfer activity from the upcoming summer window. Earlier, FIFA had imposed restrictions on the club’s ability to register new players for 3 transfer windows following an instance of delayed payments to North Macedonian footballer Hristijan Denkovski.
After the player and the club were embroiled in a contractual dispute, FIFA’s Dispute Resolution Chamber (DRC) passed a judgement in favour of the footballer on February 13 and had instructed the club to pay the compensation amount to the player within 45 days.
But despite the directive, the club failed to honour their obligation to the footballer within March 31, 2020. As a result, the transfer ban was imposed by the DRC and the club had been instructed to clear the players’ dues at the earliest.
As per the contract, the player was supposed to earn $2000 per month and the final settlement amount was decided at $18,000 plus an interest rate of 5 per cent per annum on the amount as of August 29, 2019.
However, the DRC had also mentioned that Punjab had 45 days to clear the dues, after which the ban will come into effect. Since the club has been able to reach a settlement with the player the ban has been lifted with immediate effect.
“RoundGlass Sports and Punjab FC are happy to have this matter cleared with FIFA. We have the highest regard for sportspersons and this case of delayed payment goes against our ethos of providing a springboard for promoting Sports and Football in the nation. We look forward to the upcoming season with renewed focus, as our players have continued to build on their skills with active training, following a meticulous home-training schedule designed by our international coaches and technical team," stated a spokesperson of the club following the development.