According to an update published on Dec. 23 by transfer data site Transfer marketthe market value of all seven players named in FIFA’s ruling has been reduced to zero. The players are Hector Hevel, Gabriel Palmero, Facundo Garces, Rodrigo Holgado, Jon Irazabal, Joao Figueiredo and Imanol Machuca.
Among them, winger Imanol Machuca suffered the biggest financial blow. The 24-year-old had previously been valued at €2.3 million (US$2.7 million) before being removed entirely from the transfer market.
Joao Figueiredo of Johor Darul Ta’zim was formerly valued at around €1.85 million, while center back Facundo Garces saw his value fall by roughly €930,000. The remaining players recorded losses ranging from €370,000 to €550,000.
The update follows FIFA’s decision to suspend all seven players for 12 months and fine each of them 2,000 Swiss francs ($2,500) for violating the FIFA Disciplinary Code, which covers document forgery.
The Football Association of Malaysia was fined 350,000 Swiss francs and has since filed an appeal with the Court of Arbitration for Sport, calling it its final legal attempt to overturn the ruling.
FIFA imposed additional sanctions on Dec. 17, annulling the results of Malaysia’s three international friendly matches and awarding them 0-3 losses after determining the national team had fielded ineligible players against Cape Verde, Singapore and Palestine.
As a result, Malaysia dropped five places in the FIFA rankings, the biggest slip of all nations in December, sliding from 116th to 121st, despite having gone unbeaten throughout 2025 prior to the sanctions.
The fallout may not end there. Indonesian outlet Seasia Gola reported on Dec. 23 that the Asian Football Confederation is preparing further punishment. According to a source cited by the outlet, Malaysia is expected to be punished with similar 0-3 forfeits in the 2027 Asian Cup qualifiers, for their 2–0 win over Nepal and 4–0 victory against Vietnam.
The sanctions represent one of the most severe disciplinary collapses in Malaysian football history, casting long-term doubt over the futures of the players involved and the national team’s recent competitive gains.
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