A continuously variable clutch (CVT) is disclosed which is operable in a first direction to transfer power from a power source to ground engaging members of a vehicle, and in a second direction where the ground engaging members brake and/or drive the engine. The CVT has a braking assembly having a thrust member positioned over a drive clutch shaft and adjacent an outer sheave of the drive clutch. A flanged sleeve is operatively coupled to the drive clutch shaft and generally positioned intermediate the inner and outer sheaves of the drive clutch, with a portion of the flanged sleeve being adjacent the thrust member. The flanged sleeve is fixed relative to the drive clutch shaft when operating in the first direction and is cooperable with the thrust member to move the flanged member axially relative to the drive clutch shaft and towards the inner sheave when operating in the second direction.