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Theoretically that is what makes it legitimate. A player should be able to move clubs and the 3rd party sponsor should then come with him because it has nothing to do with the club.
If the sponsor immediately drops of the player, then the warning signs go up that the sponsor wasn't truly independent of the club.
its become a joke really, all clubs do it and its really not policed
I couldn't even tell you who replaced Schubert without looking it up as whom ever he is, he does nothing