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La Liga suffers if third-party ownership banned - official

MADRID (Reuters) - La Liga will suffer compared to European rivals if FIFA follows through with a plan to ban the third-party ownership (TPO) of players, according to a top official from Spain's professional league (LFP).

The LFP and its Portuguese counterpart have filed a legal challenge with the European Commission over FIFA's decision to ban TPO, when the transfer rights of players are wholly or partially owned by an investment fund instead of a club.

The Iberian leagues want a regulatory model introduced instead that they say would prevent abuses and bad practice and argue that TPO strengthens clubs and helps stop talent draining away to wealthier leagues like the English Premiership.

"If we don't achieve change together in five years we will turn into the world's fifth league," Javier Gomez, an LFP director general, said at a forum on TPO on Thursday.

"A ban is being introduced out of fear of regulating," Gomez added. "It is necessary to fix limits but without eliminating investment funds, a necessary and convenient means of financing for many clubs."

FIFA's working group on TPO is due to present draft proposals on implementing the ban to the governing body's executive committee at a FIFA Congress in May.

FIFA's move to outlaw TPO came after pressure from European counterpart UEFA, whose president Michel Platini is one of the most outspoken critics of the practice. It is also strongly opposed by World Players' Association FIFPro.

However, some argue that clubs without the spending power of clubs like Real Madrid, Barcelona, Bayern Munich and Manchester United would be unable to compete at the highest level if access to TPO was denied them.

(Writing by Iain Rogers, editing by Justin Palmer)