The book clarifies the legal issues surrounding transfer investments, known as 'third-party ownership', in licensed football. The investment of third parties in transfer or player rights for the purpose of participating in the transfer compensation paid between two clubs is viewed critically by associations, particularly by the world football governing body FIFA. Restrictions and prohibition rules have been introduced, which are not without controversy. Philipp Wackerbeck develops a solution approach based on a comprehensive analysis of association and national legal frameworks. He demonstrates that restrictions on transfer investments are permissible in the interest of the sport, while a complete ban on transfer investments is unlawful.