FRASER WISHART, the chief executive of the Scottish players' union believes the transfer market is heading for a "reality check" following the landmark ruling on Andy Webster's exit from Hearts.

The Court of Arbitration for Sport today decided Webster must pay Hearts £150,000 after he terminated his contract a year early.

Webster left Tynecastle in May 2006, becoming the first player to use Article 17 of Fifa's transfer regulations, which allows a player to cancel their contract after three years if under 28, and two years if older.

Fifa ruled Webster, 25, who signed for Wigan before joining Rangers on loan, should pay £625,000, while Hearts had demanded more than £4.5million.

But Swiss-based CAS ruled Hearts were not entitled to receive any of his perceived value in the transfer market and set the payment at the value of his final-year salary.

The ruling paves the way for a string of big-name players to negotiate an early exit from their contracts.

Wishart said: "I've had calls from agents and player unions all over the world, I know there is a whole host of big-name players waiting on the outcome of this.

"You can only breach this contract at the end of the season - there is a period of 15 days. But it can be used also to negotiate a new contract with the club. It will be an interesting few months."

The ruling could see world-class players leaving for a few million pounds.

"The buying club and player will know exactly what the compensation will be," Wishart said.

"Wider than that, it will bring a reality check to the transfer market which can only be good because it will stop clubs paying £30 to £40million on players."

He added: "It won't have a great effect on the smaller clubs because they don't have players on four and five-year contracts.

"Big clubs will win in some cases and lose in others. I don't think it will be a disaster for clubs. They will see it as that but they saw Bosman as a disaster. It will stop clubs putting a fanciful transfer fee on players' heads.

"There will be a period of instability I'm sure where clubs will panic and players will panic. We are entering a new era. But I do genuinely think this will be good for clubs as well as players."

Wigan are understood to have pledged to pay the money owed to Hearts, while Rangers may sign Webster on a permanent deal at the end of the season.

Wishaw concluded: "I spoke to Andy today and he is delighted it's all over. He has no wish for the notoriety this brings, he just wants to get on with his career."

World players' union FIFPro public affairs boss Tony Higgins agreed that some of the world's top players may now use the landmark ruling.

Higgins said: "Certainly, some of the bigger names will utilise this ruling in an effort to get a better contract at their club.

"That's possible as many of these guys will be re-negotiating anyway. But the top players will use it, and the main beneficiaries will be the top 25% of players."

A Hearts spokesman declared it a "dark day for football".

"This is a highly damaging decision for world football," the spokesman added.