“Patrons and Sports”

12/ 10/ 2021

Author: Alexander Bragin, Lawyer at Dynasty Law & Investment Each of us, at least once in his life, was interested in sporting events taking place in Ukraine, but few wondered what such a result is worth and at what cost it gets? First of all, the key to success is the individual characteristics of athletes and coaches, their commitment to a particular sport. But enthusiasm alone is not enough, because the training of athletes and their participation in competitions requires funds, sometimes not even small. Although the state is trying to support athletes, such support is clearly not enough, so the game is played by people who can be called real fans - patrons who spend their own money to support athletes or maintain entire teams. During the 30 years of Ukraines independence, the position of patrons was not legally regulated until the summer of this year. On June 2, 2021, the Law of Ukraine “On Amendments to Certain Laws of Ukraine on Patronage Activities in the Sphere of Physical Culture and Sports” №1520-IX was adopted, which amended a number of laws, including the Law of Ukraine “On Physical Culture and Sports , Which is supplemented by legal norms, the purpose of which is the legislative regulation of relations between patrons and directly to the persons in whose favor their support is directed, as well as identified ways to encourage patrons for their activities. Proper legalization of relations between sports entities and patrons is the basis of successful and long-term cooperation, and Dynasty Law & Investment lawyers, who have extensive experience in drawing up agreements of any complexity, will be able to provide qualified assistance in drafting relevant agreements.

Author: Alexander Bragin, Lawyer at Dynasty Law & Investment

Each of us, at least once in his life, was interested in sporting events taking place in Ukraine, but few wondered what such a result is worth and at what cost it gets? First of all, the key to success is the individual characteristics of athletes and coaches, their commitment to a particular sport. But enthusiasm alone is not enough, because the training of athletes and their participation in competitions requires funds, sometimes not even small. Although the state is trying to support athletes, such support is clearly not enough, so the “game” is played by people who can be called real fans – patrons who spend their own money to support athletes or maintain entire teams.

During the 30 years of Ukraine’s independence, the position of patrons was not legally regulated until the summer of this year. On June 2, 2021, the Law of Ukraine “On Amendments to Certain Laws of Ukraine on Patronage Activities in the Sphere of Physical Culture and Sports” №1520-IX was adopted, which amended a number of laws, including the Law of Ukraine “On Physical Culture and Sports “, Which is supplemented by legal norms, the purpose of which is the legislative regulation of relations between patrons and directly to the persons in whose favor their support is directed, as well as identified ways to encourage patrons for their activities.

Proper legalization of relations between sports entities and patrons is the basis of successful and long-term cooperation, and Dynasty Law & Investment lawyers, who have extensive experience in drawing up agreements of any complexity, will be able to provide qualified assistance in drafting relevant agreements.