BRASILIA, Brazil (AP) _ Congress approved a series of measures that would bind soccer players to clubs for four years, limit the participation of investors and annul a requirement that clubs be run as businesses.

The measures, if signed by President Fernando Henrique Cardoso, would gut most of the so-called ``Pele Law,'' drafted by former Minister of Sports Pele and aimed at modernizing Brazil's archaic soccer laws.

The package, which was approved on Tuesday, revokes a requirement that Brazilian soccer clubs become companies, Jornal do Brasil newspaper reported this week. Most teams y are run as social clubs, with amateur management that has left many with huge debts.

The package of measures also gives clubs the rights to players for up to four years. The Pele Law abolished the practice that bound players to clubs until the age of 30, and decreed that players not under contract would become free agents next March.

The project also prevents television and cable stations from sponsoring soccer teams, and requires that all national team matches be broadcast by at least one free TV channel.

Eurico Miranda, a congressman and vice president of Vasco, called the measures a victory and said they will prevent the formation of soccer cartels, Estado news agency reported Friday. The project prevents investors from owning more than 49 percent of a club.

Pele said he will ask President Fernando Henrique Cardoso to veto the project, Estado said.