QSI also invited investors to buy their financial products: the economic rights in packs.
[1] It was also rumoured that FIFA was investigating the fund as third party ownership is actually not allowed and a possible conflict of interests of the agent Mendes and CAA.
QFIL borrowed money from Quality Sports Investments LP as asset-backed security and later Quality Sports II Investments LP (QSI II) to purchase the economic rights of the transfer fee receivables of the footballers (coined ERPA: Economic Rights Participation Agreement), made the company an intermediate holding company with €100 net equity (the original share capital), or a shell company.
Sporting bought 100% rights from Atlético Madrid for €8.85 million 2 weeks ago,[4] making the transaction to QSI uneconomical as the price was less than half of the purchase value.
[5] On 3 August 2011, Beşiktaş announced that the club was negotiating with QFIL for selling Necip Uysal, Atınç Nukan and Muhammed Demirci.
In October and November Beşiktaş announced that there was no progress but the negotiation did not involve Ricardo Quaresma nor Mustafa Pektemek, as both players were 100% owned by the Turkish club.
The Burnaby fund earned revenue of €4.75 million after Sporting sold Wolfswinkel in March 2013.
The Irish company is financed by Quality Sports III Investments LP and Quality Sports III Jersey GP Limited, and both entities were renamed to Burnaby Investments LP and Burnaby GP Limited respectively in November 2012.
In February 2012, the fund acquired three more players' economic rights for a total of €3,000,000 from two clubs,[30] matching the announcement of Sporting for João Mário (20% for €400,000) and Cristian Ponde (25% for €100,000).
[31][18][29] Thus, the fund had a player asset totaling €13.3 million as of February 2012 financed by Quality Sports IV Investments LP of Jersey Island.