Bangladesh, Nov. 8 -- FIFA has told soccer's biggest agents, who are resisting limits to their cut of player deals, that there is a need to "curb the excesses" of the $7 billion annual transfer market.

Agent earnings from transfers would be capped at a maximum 10% of fees when acting for the selling club under changes approved by the FIFA Council that are due to be introduced from 2021.

Agents Mino Raiola, Jonathan Barnett and Roger Wittmann, who have brokered some of the game's biggest deals in recent years, complained to FIFA they were not consulted and that the new regulations would be "anti-competitive and unlawful."

FIFA officials responded in writing to the agents on Tuesday, saying there was an "extensive consultation process wi...