Griffin Young Stars, who groomed attacking midfielder Peter Banda, will pocket five percent of the player’s transfer fee from Nyasa Big Bullets to Simba Sports Club of Tanzania.
Fifa rules and regulations state that clubs which were involved in development of an under-23 player are entitled to a development fee whenever that player is transferred.
The rules and regulations read: “If a professional moves during the course of a contract, five percent of any compensation [transfer fees], not including training compensation paid to his former club, shall be deducted from the total amount of this compensation and distributed by the new club as a solidarity contribution to the club(s) involved in his training and education over the years.
“This solidarity contribution reflects the number of years he was registered with the relevant club(s) between the seasons of his 12th and 23rd birthdays.”
Banda, 20, honed his skills at Griffin Young Stars, who play in First Capital Bank Under-20 League and Bullets chief executive officer Suzgo Nyirenda confirmed that they will honour the Fifa rules and regulations.
“That is correct, we will do the needful,” he said in an interview from Tanzania.
Griffin Young Stars, owned by Peter’s uncle Griffin Saenda, will therefore, continue getting a cut whenever the player moves to another club until he turns 23.
In 2019 Banda joined Bullets, a team his late father Chikondi Banda played for, helping the TNM Super League giants win the championship in a season he was also named player of the season.
The attacking midfielder then joined FC Sheriff of Moldova on a six-month loan deal from February to July 2021 with an exclusive option to buy.
However, the Moldovan side did not activate the clause for the Malawi international’s permanent transfer.
During his loan to Sheriff, he scored seven goals and provided 10 assists.
His last involvement with the Moldova champions was on July 28 in the Uefa Champions League group stages against Alashkert of Armenia.