Third-party ownership of players: Benfica acquire fund that holds rights to nine of their players

Sport Lisboa e Benfica SAD, the company that owns the club Benfica (Primeira Liga, Portuguese first division), acquired an 85% stake in Benfica Stars Fund, an "investment fund in transferable securities," indicated the CMVM, the Portuguese Commission of the Securities Market, on 08/09/2014. Benfica Stars Fund holds a portion of the economic rights of nine players of the Lisbon club.

"Considering that this fund will end its activity on 30/09/2014, and that its closure will involve the distribution of the economic rights of athletes held by the fund for third-party entities, there is a strategic interest by the company (SL Benfica SAD) in recovering these economic rights, so as to avoid their dispersal," stated Benfica on 08/09/2014.

With this acquisition, the Portuguese club now holds a 100% stake in Benfica Stars Fund. The amount of the transaction is €28,911,320 euros. The value of the net assets of the fund amounted to €26,783,737 as of 31/07/2014, "which includes various assets and liabilities," said Benfica. The portfolio of players the Benfica Stars Fund holds has a value of…