TAS 2025 A 11397 Club Atlético Newell’s Old Boys c. Guillermo L. May B. & FIFA ES
CAS · Football (FIFA / CAS) · Switzerland · 26 Jan 2026
Why it matters
This award reinforces that football clubs cannot rely on domestic currency restrictions to excuse non-payment of agreed sums to players, especially when the contract expressly obliged the club to obtain necessary authorizations. It confirms the strict application of contractual penalty clauses and the FIFA disciplinary framework for overdue payables, even when the debtor faces genuine financial or regulatory hurdles. The decision also clarifies the standard of review for disciplinary sanctions under CAS jurisprudence.
Summary
The case arose from a termination agreement between Argentine club Newell's Old Boys and Uruguayan player Guillermo May Bartesaghi, signed on 31 July 2024, which ended his contract early. The club agreed to pay USD 286,500 net in five installments, with a 15% penalty for default and 10% annual interest. The club failed to pay the first two installments (due 15 Aug and 25 Nov 2024), citing Argentine currency controls that allegedly prevented transferring USD abroad because the player was still a tax resident in Argentina. The player triggered the acceleration clause and claimed the full amount plus penalty and interest. The FIFA Dispute Resolution Chamber (DRC) ordered the club to pay USD 286,500 net, USD 42,975 penalty, and 10% interest, and imposed a warning under RSTP Art. 12bis. The club appealed to CAS, arguing force majeure and rebus sic stantibus due to the currency restrictions. The CAS sole arbitrator rejected the appeal, finding that the club had not proven it took all necessary steps to comply (it only made one bank inquiry after the first deadline). The arbitrator held that the club assumed the risk of regulatory obstacles under the agreement, which expressly required it to obtain authorizations. The player had become a tax resident of New Zealand by September 2024, so the currency restriction argument was moot. The penalty was not excessive under CAS precedent. The warning was the minimum possible sanction given the club's recidivism. The award confirms the DRC decision and orders the club to pay CHF 7,000 toward the player's legal costs.
The detail
Parties: TAS 2025 A 11397 Club Atlético Newell’s Old Boys c. Guillermo L. May B. & FIFA ES
Outcome: Appeal dismissed; CAS confirmed FIFA DRC decision ordering Newell's Old Boys to pay USD 286,500 net plus 15% penalty (USD 42,975) and 10% annual interest, and imposed a warning sanction.
Quantum: USD 329,475 (286,500 + 42,975) plus interest
Applicable law: FIFA Regulations on the Status and Transfer of Players (RSTP, ed. Jan 2025), Swiss law subsidiarily, and the parties' termination agreement.
Issues in play: The collision was between the principle pacta sunt servanda (contracts must be honored) and the club's defense of force majeure/rebus sic stantibus based on Argentine currency controls. The CAS held that the club assumed the risk of regulatory obstacles and could not invoke them to avoid payment.
Read the full decision at Court of Arbitration for Sport (football, via FIFA) ↗
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