The practice of third parties owning a share of footballers was a modern-day form of slavery and had to stop, UEFA president Michel Platini said.

Third Party Ownership (TPO) is widespread in Brazil and Argentina and has been widely exploited by clubs in Portugal and Spain, who are largely opposed to the FIFA ban on the practice being introduced on May 1.

TPO involves a player’s economic rights being owned by a third-party, such as an agent or sports management agency who may help to cover a young player’s development costs, but then later benefit from a percentage of future transfer fees.

Platini, a staunch opponent of the system, was asked about it by fellow former France international Laurent Blanc, now the manager of Paris St Germain, on a UEFA video forum during the UEFA president answered questions from players and fans.

“I have put a lot of pressure on FIFA to stop third party ownership,” Platini said.

“Today, it’s shameful to see some players with one of their arms belonging to one person, a leg belonging to a funds pension located who knows where, and a third person owning his foot.

“We’re dealing with a type of slavery that belongs to the past.

“Everyone earns money on such transfers, and while we are trying to find money to invest in football, that money goes in the pockets of I don’t know who, and I don’t know where.

“It’s about time that the money coming into football remains in football, and doesn’t disappear.”