Abstract: A dual mode fishing reel construction which could be of the fly reel type wherein the subject reel structure automatically changes from a direct drive of the line containing spool, during take-up of the fishing line, to an anti-reversing mode, during playout of the fishing line, wherein the crankarm used to rotate the spool for take-up of the fishing line will be prevented from free rotation during playout of the fishing line. A direct drive mechanism serves to drivingly interconnect a manually rotated crankshaft with the spool for forward rotation (line take-up) and will automatically disengage from such direct driving interconnection with the spool when the spool is forced into reverse rotation such as in casting or playout of the line by a fish, without the need for manually adjustable or engageable actuating mechanisms.