There's nothing illegal about a third party 'owning' a player and the FA merely reiterated the current rules that state that all transfers should be transparent.

The list of players 'owned' by third parties at one time or another reads like a who's who of football, just look at these players who weren't 'owned' by Leeds:

Dacourt
Duberry
Fowler
Hassellbaink
Mills
Robinson*
Alan Smith*
Viduka
Woodgate

*these two came through the youth set up but were 'mortgaged' and leased back to United who didn't receive a penny when they were sold! And who was behind the leaseback arrangement? Ray Ranson the new owner of Coventry!!