The Premier League said Britain’s decision to leave the European Union will not harm the prestige of the world’s most popular domestic soccer competition but experts warned of long-term damage to football’s transfer system.

The free movement of players around Europe together with huge television revenues raked in by Premier League clubs have made England the destination of choice for many of Europe’s top players.

Last season, according to Sky Sports, 432 players from EU countries were registered to play in the 20-team Premier League.

Although they will not be affected immediately, Britain’s eventual exit could spell trouble.

The Premier League said it would not try to second guess all the implications of Brexit until the dust settled on a seismic day for Britain on which Prime Minister David Cameron announced he would be standing down.

“The Premier League is a hugely successful sporting competition that has strong domestic and global appeal,” a spokesman said. “This will continue to be the case regardless of the referendum result,” he added.

Currently players from outside the EU have to meet certain requirements before being granted work permits such as having played 30 per cent of games in the two years prior to moving.

The signing of young players could also be affected as FIFA’s rule that players aged under 18 cannot be transferred across borders would be applied to Britain.