Explained: What is GBE & how will Brexit impact the Premier League transfer market?

'Brexit' has become a reality following negotiations that almost took four years. When the Premier League transfer window opened, it was one like never before as players coming from European Union member countries will face restrictions and qualifying system that was alien to the football world before. Here is everything Premier League fans should know about the impact of Brexit on their favourite league.

'Brexit' has become a reality following negotiations that almost took four years. When the Premier League transfer window opened, it was one like never before as players coming from European Union member countries will face restrictions and qualifying sys 

HOW DID IT BEGIN?: The Home Office has approved the Governing Body Endorsement (GBE) proposal that was submitted by the FA, the Premier League and the English Football League last month. (Photo | AP)

WHAT IS GBE?: The GBE will operate a point system which will decide a player's chances of playing in British soil. According to English media, The GBE will be EU players' work permit in the post-Brexit era. (Photo | AP)

WHAT ARE THE PARAMETERS?: A country's FIFA ranking and the number of international appearances made by the player will be factors considered. A player coming from a higher-ranking country will receive more points if he was part of a fair share of games his national side played in the last two years. (Photo | AP)

HOW WILL IT AFFECT PLAYERS?: A player from any of the top-10 ranking countries with over 50% international appearance in the last two years would easily find enough GBE to ink a deal with a Premier League side. For players coming from lower-ranking sides, they should've played almost all matches to make the cut. (Photo | AP)

The quality/performance of the players' current club will also matter since how well they did in recent competitions will also be considered in the point system. (Photo | AP)

WHAT'S THE CUT OFF MARK?: 15 is the magic number for the foreign players. (Photo | AP)

WHAT ABOUT SECOND CHANCES?: Well, if the 'Exceptions Panel' find a panel immensely talented, exceptions can be made classifying him a player of the 'highest quality'. Any player to have earned between 10-14 points will be automatically sent to the Exceptions Panel for evaluation. (Photo | AP)

ARE THERE ANY LIMITS?: Yes. Clubs can sign no more than six foreign players during a campaign. More importantly, just three overseas players under the age of 21 could be signed from January -- meaning experienced stars are more likely to make a move to England from 2021. (Photo | AP)

WHAT DOES IT MEAN TO YOUNGSTERS?: English clubs will be forced to turn their focus on improving Academy standards. Home-grown kids will find more attention and prices for young British players are likely to shoot up. However, the overall standard of the Academies might receive a blow with the inflow of EU talent stops. (Photo | AP)

BACKGROUND: UK Prime Minister Boris Johnson added his formal signature of the Brexit trade deal with the European Union (EU) on Wednesday soon after members of Parliament voted overwhelmingly for it, 521 votes to 73 in the House of Commons. (Photo | AP)

Earlier, the UK PM had recalled Parliament from its Christmas break on Wednesday to get the Brexit free trade agreement (FTA) struck with the EU cleared through all parliamentary stages for the EU (Future Relationship) Bill to become law in time for January 1, 2021. (Photo| AP)

It marked the culmination of four and a half long years of negotiations after the UK voted to leave the EU in June 2016. (Photo | Reuters)