Chile: Senators Reach Consensus to End Football Club Multi-Ownership

Original article: Chile: Senadores alcanzan acuerdo para poner fin a la multipropiedad de clubes de fútbol

The Senate’s Constitutional Committee has achieved a «consensus text» aimed at eliminating the multi-ownership of football clubs, as part of the legislative process to amend the law regulating Professional Sports Corporations.

This provision will need to be ratified in an upcoming session, as detailed in the Senate bulletin. The agreed text «establishes the obligation for a public registry of the ultimate beneficiaries of the clubs and sets a three-month deadline for owners to divest their shares in secondary teams. Failure to comply will result in fines that double each month until the breach is resolved.»

Committee chair Senator Paulina Núñez (RN) praised the agreement, stating, «When one becomes a shareholder in different clubs that compete against each other, obviously other interests come into play rather than those that should be prioritized—such as the athletes’ efforts, the families involved, and the technical work behind this, among many other factors.»

Meanwhile, Senator Matías Walker (Democrats) emphasized that this measure establishes, «Not even a one or two percent stake will be allowed in a second club; there is an absolute prohibition on multi-ownership.»

Walker also noted that, «It is confirmed that no player agents may have ownership in clubs, either directly or indirectly, and there is an obligation to disclose who the final beneficiaries are and who the natural persons owning the clubs are.»

What’s Next?

According to Walker, the remaining discussions will primarily focus on transitional articles since implementing the law requires adjustments to the federations’ statutes.

«New professional leagues must be created, for instance, the ANFP as we currently know it, which is a corporation grouping various public companies, is considered a rarity in the world; it will be replaced by a public company that will be subject to oversight, creating absolute incompatibilities with the federation. There will be a clear separation between the football federation or any other sport and the professional league,» the legislator explained.

El Ciudadano