The sports industry is becoming more and more commercialised and globalised. As a result, athletes, coaches and other stakeholders engaged in the sports industry are seeking a professional legal guidance so that to safeguard sports betting bonuses their rights and maximise their profits. Sports law is an emerging area of law that is directly interconnected and overlaps with a variety of legal disciplines, such as contract law, employment law, tort law and defamation, corporate law, immigration law and privacy rights.
The assistance of a professional lawyer who has a thorough knowledge of the aforementioned areas of law is essential both for professionals in the sports industry (i.e. athletes, coaches, physiotherapists, etc.) and other stakeholders, such as the governing boards of sport clubs, investors, etc.
Investors: Sports are not limited only to the regulations of the playing field as they are intertwined with society and economy, especially with entertainment and advertising industries. As a result, sports can be a profitable area of investment, through sponsorship and advertisement. On the one point of view, sports launched opportunities for investment in areas such as broadcasting rights, which is related to the area of Intellectual Property Law. On the other point of view, sports established a new area of marketing that develops opportunities for investment in areas such as sport clubs’ shares as the majority of sport clubs have become companies.
Athletes, Sports Professionals and Clubs: The continuous mobility of athletes and other sports professionals between teams together with the complexity of the contracts includes a variety of legal concerns. As a result, a legal representation of athletes, sport professionals and clubs is vital. Lawyers are able to assist you on matters related to contract law, breach of contracts, transfers, etc.
Before signing a contract, athletes and other sport professionals, should be sure that they are aware of the various clauses and provisions. Note that a contract between a sport professional and a club might be subject to breach. For example, in case a sport club in Cyprus does not honour its engagement regarding its obligations toward the athlete/sport professional, then the athlete/sport professional may submit a claim for remedies and/or damages to Cyprus Courts or FIFA’s Dispute Resolution Chamber. Consequently, the assistance of a professional lawyer is necessary.
Competent Authority in Cyprus:
The competent authority in Cyprus is the Cyprus Sports Organisation (CSO), a semi-governmental organisation. According to the Law, CSO can act as the Supreme Sporting Authority in Cyprus.
Why legal support is necessary?
Sports are considered as one of the most profitable industries with prominent investment opportunities and huge revenues. Therefore, the appropriate legal support may assist athletes, sport professionals and other stakeholders to maximise their benefits and protect their rights. As it has been explained, athletes, sport professionals and other stakeholders, before appointing a legal representative in the Republic of Cyprus, should ensure that their lawyer has a deep knowledge and expertise in a variety areas of law.