Benfica Stars Fund

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Benfica Stars Fund
Former type Investment Funds
Traded as ISIN: PTYEVLIM0004
Industry Football
Founded 30 September 2009 (2009-09-30)
Defunct 30 September 2014 (2014-09-30)
Headquarters Portugal

Benfica Stars Fund was a football investment fund. It was set up by ESAF – Espírito Santo Fundos de Investimento Mobiliário S.A. on 30 September 2009. At first the fund had 8,000,000 unit each with €5 each.

History[edit]

Benfica Stars Fund is the fourth investment fund of Portuguese football, after First Portuguese Football Players Funds in 2000s. Moreover, S.L. Benfica is the last Portuguese big-three which set-up an investment fund. The team sold part of economic rights of 12 players to the fund, in exchange for cash. If Benfica sold the players, Benfica would gave back a percentage of transfer fees received to the fund. In October 2009, SL Benfica invested €6 million to the fund, accounted for 15% of total units.[1] The club then sold more players to the fund, made the subscription in turn became an injection of asset instead of cash.

After the sale of David Luiz in January and Fábio Coentrão in summer 2011, the fund acquired 5 players from Benfica instead of keeping cash for €6.135 million.

As an asset, the rights were amortized proportionally according to the length of contract (between players and club). Moreover, the fund also bore the admission fee related to player transaction, tax arose, agent fee and FIFA solidarity mechanism (5% of transfer fee, distribute to youth clubs) proportionality to the ownership ratio. Thus, to make the fund profitable, the club had to sell the player above the fee that the fund acquired. The Club had to ask the fund if the club had to sell the player below the reference price of the fund.[2]

On 31 July 2014, Benfica SAD completed the acquisition of Benfica Stars Fund by spending around €28.9 million for 85%, purchasing the remaining economic rights of seven players in a total of nine, which belonged to the fund.[3][4]

Investments[edit]

Date Players Nationality Percentage Price Departed date Departed team Departed revenue (adj.)
30 September 2009 David LuizDavid Luiz Brazil 25% €4.5M[5] 31 January 2011 England Chelsea €6.25M[6] + €0.5M (value of Matić)[7]
30 September 2009 Ruben AmorimRúben Amorim Portugal 50% €1.5M 8 September 2014 Bought back €0[3]
30 September 2009 David SimaoDavid Simão Portugal 25% €0.375M 31 July 2013 Portugal Arouca Undisclosed[8]
30 September 2009 Angel Di MariaÁngel Di María Argentina 20% €4.4M 29 June 2010 Spain Real Madrid €5.0M + Bonus[9]
30 September 2009 Javi GarciaJavi García Spain 20% €3.4M 31 August 2012 England Manchester City €4.0M + Bonus[10]
30 September 2009 Roderick MirandaRoderick Miranda Portugal 25% €2.0M 31 July 2013 Portugal Rio Ave Undisclosed[11]
30 September 2009 Nelson OliveiraNélson Oliveira Portugal 25% €2.0M 8 September 2014 Bought back €0[3]
30 September 2009 Leandro PimentaLeandro Pimenta Portugal 25% €0.375M 31 July 2013 Portugal Gil Vicente Undisclosed[12]
30 September 2009 Jose ShafferJosé Shaffer Argentina 40% €1.4M 27 September 2012 Released €0[13]
30 September 2009 Urreta, Urreta Uruguay 20% €1.2M 8 September 2014 Released €0[3]
30 September 2009 Miguel VitorMiguel Vítor Portugal 25% €0.5M 30 June 2013 Released €0[14]
30 September 2009 Ishmael YarteyIshmael Yartey Ghana 25% €0.375M 19 July 2012 France Sochaux €0.375M[15][16]
10 February 2010 Oscar CardozoÓscar Cardozo Paraguay 20% €4.0M 4 August 2014 Turkey Trabzonspor €1M [17]
10 February 2010 Fabio CoentraoFábio Coentrão Portugal 20% €3.0M 5 July 2011 Spain Real Madrid €6.0M[18]
10 February 2010 Felipe MenezesFelipe Menezes Brazil 30% €1.5M 31 July 2013 Brazil Palmeiras Undisclosed[19]
10 February 2010 Rafik HalliceRafik Halliche Algeria 20% €0.4M 23 August 2010 England Fulham[20] ~€0.511M[21]
10 February 2010 Pereira, MaxiMaxi Pereira Uruguay 30% €1.35M[22] 8 September 2014 Bought back €0[3]
20 June 2010 Airton, Airton Brazil 40% €3.0M[23] 8 September 2014 Bought back €0[3]
20 June 2010 Alan KardecAlan Kardec Brazil 50% €3.0M 1 May 2014 Brazil São Paulo Undisclosed[24]
30 September 2011 Bruno CesarBruno César Brazil 15% €1.035M[25] 21 January 2013 Saudi Arabia Al Ahli €0[26]
30 September 2011 Franco JaraFranco Jara Argentina 10% €0.6M 8 September 2014 Bought back €0[3]
30 September 2011 , Nico GaitánNico Gaitán Argentina 15% €2.025M 8 September 2014 Bought back €0[3]
30 September 2011 Ezquiel GarayEzequiel Garay Argentina 10% €1.175M 25 June 2014 Russia Zenit Saint Petersburg €0.6M [27]
30 September 2011 Nolito, Nolito Spain 20% €1.3M 31 July 2013 Spain Celta de Vigo Undisclosed[28]
28 June 2013 Rodrigo Rodrigo Spain 24% €3.6M 31 January 2014 Spain Valencia Undisclosed[29]
28 June 2013 Andre GomesAndré Gomes Portugal 20% €0.8M 31 January 2014 Spain Valencia Undisclosed[30]
28 June 2013 Filip DuricicFilip Đuričić Serbia 20% €2.0M 8 September 2014 Bought back €0[3]
28 June 2013 SulejmaniSulejmani Serbia 25% €1.25M 8 September 2014 Bought back €0[3]

See also[edit]

References[edit]

  1. ^ "Sport Lisboa e Benfica - Futebol, SAD announces subscription to 'Benfica Stars Fund'.". SL Benfica (in Portuguese) (Published by Portuguese Securities Market Commission (CMVM)). 6 October 2009. Retrieved 20 December 2010. 
  2. ^ http://web3.cmvm.pt/sdi2004/fundos/docs/1201RG20090930.pdf
  3. ^ a b c d e f g h i j "Comunicado" [Announcement] (in Portuguese). S.L. Benfica. 8 September 2014. Retrieved 8 September 2014. 
  4. ^ "Águias resgatam jogadores ao Benfica Stars Fund por 29 milhões" [Eagles rescue players from Benfica Stars Fund for €29 million] (in Portuguese). Record. 8 September 2014. Retrieved 8 September 2014. 
  5. ^ "Sport Lisboa e Benfica - Futebol, SAD announces conveyance of players' economic sporting rights to 'Benfica Stars Fund'.". SL Benfica (Published by CMVM). 30 September 2010. Retrieved 20 December 2010. 
  6. ^ "COMUNICADO" [Communication] ( PDF (133KB)). SL Benfica (in Portuguese) (Published by CMVM). 31 January 2011. Retrieved 31 January 2011. 
  7. ^ "Benfica Stars Fund financial report on 30 June 2011". Benfica Stars Fund (in Portuguese). Hosted by CMVM. Retrieved 1 December 2011. 
  8. ^ Arouca: David Simão é reforço por três épocas (David Simão signs for three seasons); Mais Futebol, 26 June 2013 (Portuguese)
  9. ^ "Official announcement". SL Benfica (in Portuguese) (Published by CMVM). 28 June 2010. Retrieved 20 December 2010. 
  10. ^ "Official announcement". SL Benfica (in Portuguese) (Published by CMVM). 31 August 2012. Retrieved 31 August 2012. 
  11. ^ "Roderick assinou por 5 épocas" [Roderick signed for 5 seasons] (in Portuguese). Rio Ave's official website. 3 August 2013. Retrieved 3 August 2013. 
  12. ^ "Leandro Pimenta reforço do Gil Vicente por 3 anos". Gilvicentefc.pt. 17 July 2013. 
  13. ^ "Shaffer rescindiu e é um jogador livre" [Shaffer terminates contract and is now a free agent] (in Portuguese). Relvado.com. 27 September 2012. Retrieved 27 September 2012. 
  14. ^ "Miguel Vítor de saída" [Miguel Vítor leaving] (in Portuguese). A Bola. 25 May 2013. Retrieved 26 May 2013. 
  15. ^ "Visite médicale vendredi pour Yartey". FC Sochaux. 19 July 2012. Retrieved 22 July 2012. 
  16. ^ http://web3.cmvm.pt/sdi2004/emitentes/docs/PCT42471.pdf
  17. ^ "Comunicado" [Announcement]. CMVM. SL Benfica. 4 August 2014. 
  18. ^ "Fabio Coentrao inks contract". Real Madrid. 5 July 2011. Retrieved 6 July 2011. 
  19. ^ "Palmeiras oficializa Felipe Menezes". Record.pt. 
  20. ^ "Halliche no Fulham". SL Benfica (in Portuguese). 23 August 2010. Retrieved 20 December 2010. 
  21. ^ "Benfica Stars Fund financial report on 31 December 2010". Benfica Stars Fund (in Portuguese). Hosted by CMVM. Retrieved 1 December 2011. 
  22. ^ "Sport Lisboa e Benfica - Futebol SAD announces transfer rate of athletes' economic rights to 'Benfica Stars Fund'.". SL Benfica (Published by CMVM). 10 February 2010. Retrieved 20 December 2010. 
  23. ^ "Sport Lisboa e Benfica - Futebol SAD announces disposal of a percentage of athletes' financial rights to 'Benfica Stars Fund'.". SL Benfica (Published by CMVM). 20 June 2010. Retrieved 20 December 2010. 
  24. ^ "Na estreia de Alan Kardec, São Paulo só empata com o Orlando City". globoesporte. 
  25. ^ "COMUNICADO" [Communication]. SL Benfica (in Portuguese) (CMVM). 30 September 2011. Retrieved 9 October 2011. 
  26. ^ "Bruno César to Al-Ahli". goal.com. 23 January 2013. Retrieved 1 June 2013. 
  27. ^ "Comunicado" [Announcement] (in Portuguese). S.L. Benfica. 25 June 2014. Retrieved 25 June 2014. 
  28. ^ "Nolito refuerza la delantera del Real Club Celta" [Nolito strengthens Real Club Celta's offense] (in Spanish). Celta's official website. 1 July 2013. Retrieved 1 July 2013. 
  29. ^ "Benfica cash in on Rodrigo, Andre Gomes". Soccer News. 1 February 2014. Retrieved 9 February 2014. 
  30. ^ "Benfica cash in on Rodrigo, Andre Gomes". Soccer News. 1 February 2014. Retrieved 9 February 2014.