DENMARK Trends and Developments Contributed by: Frederik Bruhn, Rasmus Theis Madsen, Robert Jønsson and Tim Krarup Nielsen, HortenDahl Law Firm
Under the new FIFA regulations, all agents operat - ing in international transfers must obtain a FIFA agent licence. However, key provisions of FFAR have been suspend - ed worldwide by FIFA while it awaits the ECJ’s ruling on their compatibility with EU competition law. In Denmark, the Danish Football Association (DBU) implemented FFAR through Circular No 125, thereby extending FFAR’s provisions to national transfers in Denmark. However, in line with the recommendations from FIFA, DBU has announced a temporary suspen - sion of the most significant parts of the circular con - cerning football agents. It is worth noting that only FIFA-licensed agents are allowed to operate on the Danish market. Notably, in May 2025, Advocate General Nicholas Emiliou delivered his Opinion in the pending FFAR cases before the CJEU, emphasising that sports gov - erning bodies are not exempt from EU competition law when regulating economic actors such as agents. While recognising a margin of sporting autonomy, the Advocate General reaffirmed that such rules must pursue legitimate objectives and satisfy the propor - tionality requirements under the Meca-Medina test. The judgments of the CJEU are expected in 2026 and will determine whether the suspended elements of the FFAR, including the cap on agents’ fees and restric - tions on multiple representation, can be upheld under EU competition law or must be amended. An additional practical issue has arisen concerning jurisdiction in international disputes. International disputes involving agents and players have ordinarily fallen within the competence of FIFA’s Agents Cham - ber. However, as a consequence of the suspension of key parts of FFAR in 2023, the Agents Chamber is cur - rently not operational for such disputes. This creates legal uncertainty, as agents and players are presently unable to refer international representation disputes to a competent body. In light of this situation, it is advisable for agents and players to include a clear jurisdiction clause in their representation agreements referring international dis - putes to the Court of Arbitration for Sport (CAS). Such
a clause ensures procedural certainty and avoids a potential jurisdictional vacuum while the regulatory framework and dispute resolution system remain unsettled. Increased Commercialisation of Youth Transfers Danish football has undergone significant changes in recent years, with clubs’ financing increasingly relying on youth player transfers as a key revenue stream. From 2021 to 2024, the Superliga clubs generated an aggregate profit of approximately DKK906 million. The results were heavily concentrated among a small num - ber of clubs, most notably F.C. Copenhagen, which alone reported a cumulative surplus of DKK498.7 mil - lion, followed by FC Nordsjælland (DKK155 million), Silkeborg IF (DKK124 million), AGF (DKK103 million) and FC Midtjylland (DKK87 million). Many clubs, including those outside the Superliga, have adopted a business model centred on talent development and early player sales. This approach allows clubs to generate substantial profits before young players reach their peak potential. The trend of selling young talents at high transfer fees is par - ticularly evident in clubs like FC Nordsjælland and F.C. Copenhagen, both of which have successfully transferred multiple young players for record-breaking sums. Recent examples include the following: • Victor Froholdt transferred to Porto for allegedly EUR20 million (DKK149 million); • Sindre Walle Egeli sold to Ipswich for approximate - ly EUR20 million (DKK149 million); • Lucas Høgsberg sold to Strasbourg for allegedly EUR15 million (DKK112 million); • Ernest Nuamah sold to RWD Molenbeek for approximately EUR25 million (DKK168 million); • Conrad Harder transferred to Sporting CP for allegedly EUR19 million (DKK141 million) and was subsequently sold the following year to RB Leipzig for allegedly EUR24 million (DKK186 million); and • Orri Óskarsson sold to Real Sociedad for approxi - mately EUR20 million (DKK149 million). These transfers highlight how Danish clubs can gener - ate significant financial returns by strategically devel - oping and selling young players.
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