Which of the following can be considered a third party in the context of third-party ownership?

In the context of third-party ownership, the concept refers to entities that can financially influence or have an ownership stake in a player’s rights, independent of the player's club. When looking at the options provided, investment funds emerge as a clear example of a third party. They can financially back players, holding ownership claims over the player's transfer rights without being directly involved in the operational aspects of the football club.

While clubs other than the player's former clubs may have interests in players, they do not typically hold any ownership stake in that player's rights, which is a defining characteristic of third-party ownership. The player's former clubs have previously owned the rights but do not qualify as third parties in this context.

Football agents facilitate player transfers and represent the interests of the players, but they do not possess ownership rights over any player's future, thereby not fitting the third-party ownership criteria.

Thus, investment funds, based on their capability to possess stakes in player rights, align well with the definition of a third party in this context.