The law has now legally come into effect after previously being passed in both the House and the Senate, thus requiring only the president’s approval.
“I have finished sanctioning the Sport’s Act. I hope that soccer moves forward. I invite you all to make sport the best way to be healthy,” Santos announced via Twitter.
The new law places strong emphasis on cracking down on soccer violence in and around the stadiums.
In cases where explosives are used or brought to the stadiums, as has happened this season, the perpetrator could be sent to prison for between five and 10 years.
Soccer hooliganism has long been a problem in Colombia, with numerous incidents occurring this season.
Earlier this month, fans rushed the field in Bucaramanga and attacked their own team’s players with daggers, apparently upset at their teams 3-0 deficit at halftime.
That same weekend, a game between Atletico Nacional and Real Cartagena was suspended because a Nacional fan threw an empty bottle of aguardiente onto the field, striking a Cartagena player in the head and sending him to the hospital.
The news of the Sports Act comes as a Santa Fe fan was sentenced to 33 years in prison for the murder of a rival Millonarios fan in 2009.
The Sports Act will also seek to bring greater financial transparency into Colombian soccer ownership and management of teams.