Estudiantes de La Plata’s project to develop with external investment took a hard blow over the weekend.

Club president Juan Sebastián Verón found himself in hot water last week when Argentine Football Association (AFA) treasurer Pablo Toviggino accused him of lying to the club’s members about a multimillion-dollar investment deal from U.S. business magnate Foster Gillett. The terms of the deal have been jealously guarded.

Then, on Sunday, Boca Juniors informed the Argentine Football Association (AFA) that it had received the payment to activate midfielder Cristian Medina’s contract release clause — but the money had come from Gillett’s personal account.

FIFA regulations on player transfers prohibit clubs and players from doing deals with third parties that involve them making payments for player transfers.

Medina was Estudiantes’ flagship signing for the season. He was announced by Verón under the tag “Estudiant(es)........

© Buenos Aires Herald