On April 21, 2010 was published in the Official Gazette of Venezuela No. 39.497, the resolution issued by the Ministry for Sport through which it is required the express written consent of the highest authorities of the State Executive Branch to formalize a legal relationship when a sponsor is patronizing an athlete and/or teams belonging to a particular federal agency.

The resolution provides in Article 3 that sport sponsorship should seek the welfare of athletes, promoting the territorial entity to which the athlete belongs or where they received their sport training. Also, the contract must match the sponsorship programs and projects established by the Ministry for Sport.

On the other hand, according to Article 4, the sponsors may not display advertising with logos, emblems or anything else that could distinguish, infer or represent symbolically alcoholic beverages, cigarettes, gambling or any other product that according to the Ministry for Health, is detrimental to the health.

Article 5 provides that athletes and/or teams belonging to the national team, before entering into any sponsorship agreement, require the express written statement of the sport federation for the corresponding discipline, the consideration and approval by the Minister for Sport and the opinion issued by the Legal Adviser of the Ministry for Sport.

The Legal Advisor will be responsible for keeping records and monitoring the sponsorship agreements or contracts of athletes and teams belonging to state and national teams. For such purposes, shall be served by publication of an Official Notice in a newspaper of national circulation, the sport federations, sport associations, athletes, teams and regional authorities, the time to record the legal instrument which governs the legal relationship sponsorship between authorities and athletes, and other required documentation.

This resolution is effective from the date of its publication in the Official Gazette, since April 21st 2010.