AGENTS:

What is the role of an agent? Here is a general idea of what agents do.

A sports agent procures and negotiates employment and endorsement contracts for an athlete. Agents are responsible for communications with team owners, managers, coaches, and other individuals. Primarily, agents are used to broker and negotiate contracts for their clients.

Also, they are responsible for making recommendations in regard to the athlete’s options. In addition to finding income sources, agents often handle public relations matters for their clients. Agents sometimes deal with all aspects of a client’s finances, from investment to filing taxes.

Sports agents may be relied upon by their clients for guidance in all business aspects, and sometimes even more broadly. For example, hockey agents start recruiting clients as young as 15, allowing the agent to guide the athlete’s career before the NHL draft, which happens usually at 18 years of age.

Due to the length and complexity of contracts, many sports agents are lawyers or have a background in contract law. Agents are expected to be knowledgeable about finance, business management, and financial and risk analysis, as well as sports. It is important for a sports agent to follow trends in sports. Other skills an agent must possess are excellent communication and negotiation skills. Agents must be highly motivated, willing to work long hours, and have the ability to multi-task. It is very common for agents to be in negotiations on behalf of several clients at one time.

Some agents are part of large companies, and some are on their own. The number of clients an individual agent can handle and how many clients his or her employing agency can handle in total are interdependent variables.

Sports agents generally receive between 4 and 10% of the athlete’s playing contract, and 10 to 20% of the athlete’s endorsement contract, although these figures vary. NFL agents are not permitted to receive more than 3%, and NBA agents not more than 4%, of their client’s playing contracts.

Agents work on commission. Agents DO NOT charge retainer fees, upfront fees, etc. If you do find an agent that charges these fees, run!

Agents are just like any other commissioned agent, they come from all types of backgrounds and personalities. Find an agent that matches up with your morals and ideals. Ask others that you trust whether they are familiar with the agent.

COLLEGE ATHLETES: NO AGENTS are allowed to entice you to enter an agency contract while in college. AGENTS are NOT allowed to offer you 0% interest loans, gifts to you or family members. If an agent is offering this, run! In fact, if an agent is worth anything, the agent will want you to finish your education before going professional.

Personally, I believe an agent should have your best interests even above their own. Even above your own! When everyone else is saying it’s ok to keep playing when a health issue is at risk, I think the agent should be the one to pull the plug and say no. Even if it means losing money. Health is MORE IMPORTANT than money. I have seen TOO many retired professional athletes nursing injuries for decades after playing.

You should be the agents #1 priority.