Football's governing body is to end third party ownership, according to FIFA President Sepp Blatter.

He says there will be a ban introduced, but only after a transitional period.

The FIFA ExCo has taken the principle decision that third-party ownership (TPO) shall be banned with a transitional period.

— FIFA Media (@fifamedia) September 26, 2014

Investment companies having stakes in players is already outlawed by the Premier League, but is prevalent in Spain, Portugal and parts of Eastern Europe and South America.

"We took a firm decision that TPO should be banned but it cannot be banned immediately there will be a transitional period," said Blatter.