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The current transfer system is "failing football and its players", according to world players' union Fifpro.

Talks aimed at reforming the system collapsed after representatives of clubs, players and leagues across Europe could not agree on key issues.

"Basic measures must be introduced to give players stability," said secretary general Theo van Seggelen.

Fifpro claim 4,000 players file cases yearly because they have not been paid or had contacts terminated unjustly.

"Due to the volume of cases, players have to wait several years for a hearing which, in over 90% of matters, is decided in favour of the player," added Van Seggelen,

"Given the short-term and precarious nature of a player's career, these delays cannot be tolerated."

Fifpro will now plan to hold an extraordinary meeting in Greece on 28-29 January to "address this serious matter".