The important news for us is that they agreed "in principle" on maximum and minimum durations of players contracts, to be 5 and 1 years respectively. This would appear to alleviate fears that Arsène Wenger is going to quit club management over the issue, although there is still work to be done before the full compromise package is finalised.

There are other issues to be addressed at Friday's meeting, which is expected to result in a clear set of proposals for the future of football transfers in Europe.