Through our present work, we wanted, in the first place, to establish the basis on the elements and characteristics of the labour contract existing between a professional football player and a professional football club in Colombia. Alter this, we assigned a legal status to the so called "rescission clause" -clause that can be found in sorne of the professional football players labour contracts- establishing that the "rescission clause" is a penalty clause. Straight alter, the validity of said clause was studied, first from a Constitutional optic, and alter from a legal point of view, to end up establishing, according to the article 17.1 of the Regulations on the Status and Transfer of Players of the FIFA Regulations, and its interpretation made by the Court of Arbitration for Sport, which are the parameters that shall be taken in account when determining the compensation that should be taken in account at the moment in which a "rescission clause" is agreed on.