In a sense. "Fùt" is not a Spanish word, and "bol" means "bowl." They just use the English word for the game, written phonetically in Spanish.

Another name for the sport in Spanish is "balompié", which comes from "balón" (ball) and "pie" (foot), but it's rarely used.

Eh, it might as well be the equivalent of "soccer" (a meaningless made up word), since the Spanish word for neither "foot" nor "ball" are in the name. (In contrast to Chinese's zuqiu which is literally "foot" "ball").