Cardiff City are finally able to trade in the January transfer window after FIFA and the EFL lifted embargoes which put a total ban on the club's ability to register new players.
Cardiff this week paid Nantes FC the first instalment of the fee for Argentine striker Emiliano Sala, believed to be worth £7m including interest, after they had been hit with a three-window transfer ban.
The payment to Nantes meant FIFA lifted their embargo. However, the EFL's embargo is slightly more complex.
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Essentially, for want of a better phrase, there are two parts to the EFL embargo. The first is fairly straightforward and falls in line with FIFA's stipulations: If a transfer fee is not paid then a club cannot register any new players.
Of course, just like the FIFA ban, the criteria for that has been satisfied with the aforementioned payment to Nantes this week.
The second part of this embargo, though, is important for how Cardiff are able to go about their business.
The EFL rule that if an embargo has been in place for more than 30 days then the club are prohibited from paying a fee for a player for three windows.
As we understand it, the EFL assert the club were notified of the embargo more than 30 days before paying the £7m to Nantes this week and therefore this particular part of the ban has not yet been lifted. Talks, however, are going on behind the scenes in a bid to find a solution.
What it essentially means for the time being is that Cardiff are able to register new players but are unable to pay fees for them for the next three windows.
This second part of this transfer ban was implemented to stop rogue clubs overpaying with no intention of forking out full fees for players. However, it is perfectly fair to say, the legislation was not designed to accommodate such a complicated case as the Cardiff-Nantes dispute over Sala. That remains unique in world football.
While the EFL have confirmed to us that Cardiff are no longer under an embargo, they do not comment on the specifics of each club's case.
But we have learned that Cardiff will be operating within this transfer window by bringing in only free transfers and loans. While some might be concerned that loans may be difficult due to Cardiff being unable to pay a loan fee, it is understood that, post-Covid and with Premier League sides more sympathetic to Championship clubs' financial struggles, that is not as prohibitive as it once might have been. Top-flight sides are more concerned with getting good league experience for their players as opposed to the relatively meagre fee they might receive for their services.
The loan market is a difficult one to trade within and there are a lot of moving parts. The domino effect of a Premier League club buying a player only for them to send another out on loan plays its part in these mid-season windows.
That being said, the Bluebirds are hopeful of bringing in two or three players, largely to bolster their forward line. Attacking midfield, striker and winger are all options being considered, with the club having had targets lined up for when the embargoes were lifted.
Given the success of last year's January window, dealing purely within the loan market, City fans will hope for similar success this time around, with their club lying in 20th in the Championship table.
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