FA gives go ahead for controversial Hero Fund transfer funding vehicle - Exclusive
Published 00:00 12/07/09 By By Paul Smith
The FA has approved a controversial transfer funding vehicle that was thrown out by the Premier League following concerns over third party involvement.
The Hero Fund's advisers include BBC pundit Alan Hansen, former FA executive David Davies and retired ref David Elleray.
It's a global fund that currently stands at £110million.
While the Premier League have refused to endorse it, the Football League are giving serious consideration to allowing its members access.
It works by allowing clubs to get advance money based on a player's transfer valuation, which is set by independent experts like the players' union.
If a player is not sold in three years, the Hero Fund will start charging interest on the loans.
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