Pelé Law
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Pelé Law is a Brazilian law that forces professional sports clubs to observe business law and pay tax within two years. On March 24, 1998, Law N. 9.615/98, stipulates that by 2001 clubs can sign a maximum five-year contract with a player when he turns 16 and stand to receive only a "penalty fee" of up to 100 times his monthly wage if he leaves before then. If a player fulfills the contract without renewing then he can leave and join a new club as a free agent. The…mehr

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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Pelé Law is a Brazilian law that forces professional sports clubs to observe business law and pay tax within two years. On March 24, 1998, Law N. 9.615/98, stipulates that by 2001 clubs can sign a maximum five-year contract with a player when he turns 16 and stand to receive only a "penalty fee" of up to 100 times his monthly wage if he leaves before then. If a player fulfills the contract without renewing then he can leave and join a new club as a free agent. The previous club receives no transfer fee or compensation in this transaction with his new club.