1:00 PM PT -- Reports that Pele collapsed and was transported to a hospital are "fake news," Pele's rep told Reuters.

“He just didn’t want to make a long and stressful trip to London, in and out of who knows how many planes and airports,” said Jose Fornos Rodrigues. “That’s all.”

Soccer legend Pele was rushed to a hospital in Brazil early Thursday morning after collapsing ... but doctors seem confident he'll be okay.

So far, it appears the 77-year-old's medical episode is being chalked up to exhaustion.

Pele was set to host a dinner in London with the Football Writers Association on Sunday -- but the FWA now says he will not make it for obvious reasons. The FWA also issued a statement about Pele's health.

"In the early hours of Thursday morning, Pele collapsed and was taken to hospital in Brazil where he has undergone a series of tests which appear to point to severe exhaustion."

"He remains on fluids while doctors monitor his recovery. Thankfully, there is no suggestion of anything more serious than exhaustion."