Abstract: A fishing reel adapted to be mounted on a fishing pole and having a housing which rotatably mounts a clutch, a spool and a handle. The housing further mounts an adjustable disc brake which is operable to impart frictional resistance to the spool when it is rotated in a line dispensing direction. The fishing reel is operable to be rotatably urged in a line retrieval direction by the handle which moves a pair of pivotally mounted dogs into engagement with the spool. The handle is adapted immediately to disengage from the spool when it is rotatably urged in the line dispensing direction.