You get, what is noted with the individual sponsored magic, if it doesn't specifically state that you get item slots, you don't. Instead, you have the sponsor to help you, if you need it. I think that's what they mean by "functionally": You can do the same stuff, but it is not quite the same power.
I don't even think it is possible to get focus items with refinement, if you only have sponsored magic, but that is just a personal opinion, I don't have anything backing it up.