Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The international transfer and first registration of minor players are regulated to protect young players and ensure compliance with FIFA's principles of youth protection and regulatory transparency [6] - The Players' Status Chamber of the FIFA Football Tribunal must approve any international transfer of a minor who is at least ten years old [7] - The Minor Application Guide outlines the necessary documentation and procedural requirements for submitting minor applications, ensuring completeness and admissibility [9][10] Summary by Sections Minor Application Guide - The guide provides a structured overview of scenarios requiring applications and the corresponding documentation needed from member associations [10] - It emphasizes the importance of submitting documents in one of FIFA's official languages or providing translations [11] The Individual Exceptions - Various exceptions for minor applications are detailed, including circumstances where players move with parents for non-football-related reasons [14] - Documentation requirements vary based on the specific situation, such as employment contracts, proof of identity, and custody documents [16][17][21] Minor Application Process - The process involves creating and submitting an application by the new association, obtaining approval from the former association, and a review by the FIFA general secretariat [72][73][75] - The Players' Status Chamber makes the final decision, which is communicated to the relevant associations via TMS [81][82] FAQs - Clarifications on the definitions of first registration and international transfer for minor players are provided, along with the approval requirements for national minor players [88][90] - The report outlines the standard of proof required for evaluating exceptions and the acceptable age of submitted documents [96][97]

国际足联视频助理裁判（VAR）技术质 量计划 测试手册 版本：2026年1月 | 1. 引言 2 | | --- | | 2. 背景与方法 2 | | 3. 测试与评估 4 | | 3.1. 同步性测试 4 | | 3.1.1. 测试设置 4 | | 3.1.2. 方法论 5 | | 3.1.3. 结果与评估 5 | | 3.2. 延迟测试 6 | | 3.2.1. 测试设置 6 | | 3.2.2. 方法论 7 | | 3.2.3. 结果与评估 7 | | 3.3. 视频质量测试 7 | | 3.3.1. 测试设置 8 | | 3.3.2. 方法论 8 | | 3.3.3. 结果与评估 8 | 为制定VAR系统的技术指南，开展了一项研究项目，以确定VAR系统关键技术领域。该研究的目的是建立客观 的测试方法，量化相关技术因素，并设定适当的限制，确保批准的系统适用于使用。 初始讨论确认了与编码、解码、同步、重新格式化播出信号以及图像处理相关的各种挑战。在此过程中，识别出 了三个测量点（MP），参见 图表1， MP 0是摄像机信号离开外景转播车/转播提供商，进入视频操作室（VO R）之前的位置；MP 1位于视频操 ...

国际足联视频助理裁判（VAR）技 术质量计划 申请指南 版本：2026年1月 介绍 视频助理裁判（VAR）技术的首次应用是在2018年俄罗斯世界杯™上，自那以后已经在许多比赛中使用。VA R的目的是在四个可能改变比赛结果的场景中为主裁判提供额外信息，以防主裁判的初始判断是明显的错误 。尽管有几个软因素影响了VAR的成功使用，但技术组件通常整合到现有的广播系统中。安装质量对于为VA R提供可靠、高质量的录像至关重要。 国际足联质量计划对VAR技术（标准VAR系统和VAR Light）进行测试程序，旨在验证系统在转播设置中的技 术整合。 为了为希望获得足球比赛使用批准的VAR系统制定技术指南，开展了一项研究项目，旨在确定VAR系统的关 键技术领域，开发量化这些因素的方法，并建立可确保系统能够提供充足解决方案的客观测试方法。基于这 项研究项目的成果，国际足联（FIFA）开发了一系列测试，这些测试评估了视频信号的延迟和同步性，以及 提供给VAR的视频信号质量。 FIFA与独立测试机构合作组织这些测试，所有认证系统均列在 FIFA资源中心 用户指南 此文件包含有关任何希望成为国际足联质量计划许可方并获得FIFA VAR ...

Investment Rating - The FIFA Talent Development Scheme (TDS) operational lifecycle for 2023-2026 is designed to enhance the competitiveness of national teams globally and is supported by a dedicated funding allocation of USD 200 million, aimed at both male and female talents [27][37]. Core Insights - The TDS aims to provide every member association with tailored resources and structures for talent development, ensuring a sustainable legacy and equal investment in male and female players [27][37]. - The operational lifecycle includes a needs-based approach, allowing member associations to apply for dedicated funding and support for their long-term development plans [27][37]. - The TDS is structured around four key pillars: expertise, training and education, knowledge exchange, and funding, with an annual contribution of USD 50,000 allocated to each participating member association [37][44]. Summary by Sections I. General Rules - The TDS was launched to promote global football and support member associations in developing talent pathways [27]. - The operational lifecycle incorporates a needs-based approach and provides resources for member associations to enhance their talent development programs [27]. II. TDS Operational Lifecycle - The TDS operational lifecycle is tailored to the needs of each member association, with annual contributions and additional funding opportunities available [37][44]. - Member associations can apply for funding for specific talent development projects that align with their strategic long-term development plans [34][44]. III. Principles of Funding and Process of Approval - Each member association accepted into the TDS will receive an annual contribution of USD 50,000, with additional funding available for specific talent programs [44]. - The Global Football Development Panel is responsible for approving applications and ensuring compliance with the TDS regulations [49]. IV. Obligations of Member Associations - Member associations must comply with TDS regulations and submit annual requests to participate, including a strategic long-term development plan [39][54]. - Each application must be supported by accurate and complete information, and member associations must ensure compliance with all requirements [40][54]. V. Final Provisions - The TDS regulations were approved by the FIFA Council and are effective immediately, applying to the financial period ending on 31 December 2026 [60].

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The report emphasizes the importance of ethical recruitment practices in the sports industry, particularly focusing on transparency, fairness, and the protection of minors [1][2][3] Summary by Relevant Sections Transparency and Honesty - Full disclosure of financial arrangements is crucial, including clear communication of fees, commission structures, and contract terms [4] - Ensuring that players and their families understand long-term financial commitments and implications is essential [5] Accurate Presentation of Career Opportunities - Avoid exaggerating career prospects or over-promising outcomes to attract clients [10] - Encourage participants and their families to consider career or educational plans outside of sports [10] Protection of Minors - Compliance with regulations regarding minors is mandatory, ensuring guardians are fully informed of rights, responsibilities, and risks [8][9] - Regular welfare checks and discussions about career progress and concerns are necessary [12] Compliance and Responsibility - Adherence to FIFA regulations and ensuring that clubs have protective policies in place is vital [15][16] - Maintaining a focus on the player's best interests, even in the face of potential conflicts of interest, is critical [19][20] Fairness and Non-Discrimination - Recruitment practices should be based solely on talent and potential, without bias related to race, nationality, or gender [22][23] - Equal opportunities must be provided to all participants, promoting gender equality in support and resources [24] Reporting Unethical Behavior - Any observed unethical behavior should be reported to FIFA or relevant associations, with documentation of all incidents [25] Supporting Vulnerable Groups - Measures should be taken to assist vulnerable participants in navigating the recruitment process, including connecting them with support programs [26] Empowering Minors and Family Involvement - Respecting the autonomy of minors by involving them in decision-making processes is essential [27] - Maintaining open communication with families regarding their children's progress and any changes in representation agreements is important [28] Best Practices and Due Diligence - Conducting background checks on third parties associated with players is necessary to ensure ethical standards are upheld [29][30] - Providing support for cultural adaptation and relocation logistics is crucial for international placements [31][32] Balanced Development - Encouraging participants to prioritize education and personal well-being while managing time effectively between sports and other pursuits is vital [35][36]

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The FIFA Electronic Performance and Tracking Systems (EPTS) quality program was launched in 2017 to ensure that wearable tracking systems used in football do not pose a danger to players [2] - A new performance standard was introduced in 2019 to verify the reliability and accuracy of electronic tracking systems, providing guidance for event organizers when appointing tracking system suppliers [4] - The certification process for EPTS technology involves multiple steps, including impact assessment testing, performance testing, and obtaining product liability insurance [7][15] Summary by Sections Introduction - The FIFA EPTS quality program aims to ensure safety in wearable tracking systems used in football matches, with testing standards based on medical and mechanical assessments [2] Performance Standards - The introduction of the FIFA quality standard in 2019 aimed to validate the reliability and accuracy of electronic tracking systems, enhancing transparency for end-users [4] Certification Process - The certification process for EPTS involves several steps, including: - Step 1: Request for testing by submitting company and product details to FIFA [9] - Step 2: Impact assessment testing and WFSGI commitment for wearable devices [11][14] - Step 3: Proof of product liability insurance is mandatory for all EPTS providers [15] - Step 4: Performance testing organized by FIFA and certified testing institutions [17] - Step 5: Obtaining FIFA certification through either a basic or standard license agreement [24][26] Testing and Reporting - Certified testing institutions are responsible for conducting tests and providing final reports to FIFA [13] - Performance testing results can lead to FIFA quality certification, which is valid for four years and published on FIFA's website [22][28]

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The FIFA Quality Programme for Electronic Performance and Tracking Systems (EPTS) aims to standardize performance evaluations of EPTS in the football industry, focusing on speed and position output data [5] - The program has expanded to include new performance metrics such as acceleration, load, and technical indicators, which are not eligible for certification in 2025 but can be included in reports with mutual agreement [5] - The testing methodology relies on three core systems: 3-D motion capture (VICON), Inertial Measurement Units (IMUs), and total station measurements to assess EPTS performance metrics [6][7][8] - The report outlines a comprehensive testing protocol that includes various tasks for players, such as maximum sprints, small-sided games, and ball tracking exercises [26][30][31] Summary by Sections Introduction - The FIFA has developed a quality program for EPTS that includes standardized performance evaluations and certification based on quality results [5] Testing Protocol - Testing will occur on FIFA-regulated football fields, with specific dimensions and setups for capturing player and ball data [10][12] - A 40 x 30 meter area will be designated for player and ball tasks, utilizing VICON 3-D motion capture systems [12] - The testing protocol includes various player tracking tasks to measure speed, position, acceleration, and load metrics [26][28][30] Data Analysis - Providers must submit data in a specific format, and the report details the requirements for different metrics such as position, speed, acceleration, and load [45][48][49] - The report emphasizes the importance of data synchronization and statistical analysis to ensure accuracy in performance tracking [56][58] New Metrics - The report introduces new metrics for 2025, including acceleration evaluation and load assessment, which will not be part of the certification process but can be used for internal assessments by providers [71][81]

Investment Rating - The report does not provide a specific investment rating for the industry or companies involved Core Insights - The case revolves around the ownership of CF Pachuca and Club León in relation to the FIFA Club World Cup 2025 regulations, particularly concerning multi-club ownership [6][20] - Grupo Pachuca asserts that both clubs operate independently, with separate financial structures and decision-making processes, and emphasizes their commitment to comply with FIFA regulations [4][6][22] - FIFA's new regulations introduced restrictions on multi-club ownership, leading to concerns about the eligibility of both clubs to participate in the tournament [30][34] Summary by Sections Introduction - The case involves CF Pachuca and Club León, both affiliated with the Mexican Football Association and competing in Liga MX [6] Facts of the Case - Grupo Pachuca clarified its operational independence and financial separation between Pachuca and León in a letter to FIFA [4][6] - FIFA's regulations for the Club World Cup 2025 include specific provisions regarding multi-club ownership, which prompted an investigation into the clubs' compliance [7][20] Proceedings Before the FIFA Disciplinary Committee - FIFA initiated disciplinary proceedings against both clubs for potential non-compliance with Article 10 of the regulations, leading to a request for further documentation and clarification [20][22] Respondents' Position - Both clubs argue that they operate independently and have not violated the regulations, emphasizing the lack of evidence from FIFA to support claims of non-compliance [22][29] - Pachuca and León highlight the principles of legal certainty and good faith, arguing that the disciplinary proceedings are unjustified and that they have acted in accordance with previously established regulations [28][34]

Investment Rating - The report does not explicitly provide an investment rating for the FIFA Club World Cup 2025 Core Insights - The FIFA Club World Cup 2025 is expected to generate significant socio-economic impacts, with a total attendance of approximately 3.7 million people and an estimated event-related expenditure of $7.2 billion [8][10] - The overall economic impact is projected to reach $41.3 billion globally, with a gross domestic product (GDP) contribution of $21.1 billion and the creation of 432,000 full-time equivalent jobs [8][39] - The Social Return on Investment (SROI) is calculated at 4.34, indicating that for every dollar invested, society is expected to benefit by $4.34 [9][64] Economic Impact - The macroeconomic analysis estimates the monetary impacts of spending, focusing on indicators such as gross output, GDP, labor income, and employment [14] - The total economic impact in the USA is projected at $17.1 billion, with a GDP contribution of $9.6 billion and 105,000 full-time equivalent jobs created [10][39] - The event is expected to generate direct, indirect, and induced economic contributions, with significant benefits for sectors such as wholesale & retail, accommodation & food, and defense & security [43] Social Impact - The social impact analysis highlights non-financial benefits, including improvements in health, well-being, and social connections within communities [26][71] - The total social benefits are estimated at $3.36 billion, with tourism-related benefits accounting for $2.43 billion, sport benefits at $0.58 billion, and entertainment benefits at $0.35 billion [60][62] - The event is anticipated to foster increased physical activity, leading to long-term health benefits and potential savings in public health costs [72][73] Methodology - The analysis employs the Social Return on Investment (SROI) methodology aligned with OECD guidelines, incorporating stakeholder engagement and outcome mapping [4][9] - Data sources include FIFA expenditure forecasts, tourism reports, and international benchmarks from organizations such as the World Bank and OECD [6][8] - The study utilizes an inter-country Social Accounting Matrix (SAM) to evaluate the economic impact across 45 productive sectors and 76 countries [5][15]

Investment Rating - The report does not explicitly provide an investment rating for the FIFA World Cup 2026 Core Insights - The FIFA World Cup 2026 is expected to have a significant socioeconomic impact, with a total attendance of approximately 6.5 million people and event-related total expenditure estimated at $13.9 billion [8][36] - The overall economic impact is projected to generate a gross output of $80.1 billion globally, with a GDP contribution of $40.9 billion and the creation of 824,000 full-time equivalent jobs [9][43] - The Social Return on Investment (SROI) is calculated at 3.64, indicating that for every dollar invested, society benefits by $3.64 [62] Summary by Sections Scope - The FIFA World Cup 2026 will expand to 48 teams, co-hosted by Canada, Mexico, and the United States, aiming to enhance global participation and competition [2][32] Methodology - The analysis employs Impact Analysis and Social Return on Investment (SROI) methodologies aligned with OECD guidelines, incorporating stakeholder engagement and monetization of benefits [4][28] Economic Impact - The total economic impact includes a gross output of $80.1 billion, with the USA contributing $30.5 billion to GDP and creating 185,000 full-time equivalent jobs [9][43] - The accommodation and food sector is expected to benefit the most, followed by real estate and wholesale and retail sectors [46][47] Social Impact - The event is projected to generate social benefits valued at $8.28 billion, with tourism, sports, and entertainment contributing significantly [58][60] - The SROI for the USA is calculated at 4.03, indicating substantial social returns from investments made for the event [66] Expenditure Breakdown - Total expenditure for the event is estimated at $13.9 billion, with the USA accounting for $11.1 billion, including $6.4 billion from anticipated tourist spending [36][37] Tourism Impact - The influx of visitors is expected to generate billions in economic activity, benefiting hospitality, transportation, and retail sectors, while enhancing the global visibility of host cities [34][38] Employment Generation - The event is anticipated to create 823,474 full-time equivalent jobs globally, with significant contributions from the accommodation and air transport sectors [50][51]