Banfield have declared James Rodriguez left Real Madrid for Everton in a free transfer.

According to FIFA regulations, Banfield would have been due a percentage of the transfer fee because James played for the club between 2008 and 2010.

"Unfortunately, the transfer of James Rodriguez from Real Madrid to Everton doesn't correspond to money for Banfield," Ignacio Uzquiza, the treasurer for Banfield, said in a club statement.

"The transaction was done without cost, as if he was a free agent.

"Consultations have already been made to the two clubs involved and the corresponding organisations.

"In all cases, we were told that the club will not receive any money from the solidarity mechanism."