Sports Agent

A sports agent is a legal representative hence agent for professional sports figures like athletes, managers and coaches and procures and negotiates employment and endorsement contracts for the athlete or coach whom they represent. Because of the unique characteristics of the industry sports 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. In some large sports agencies, such as IMG, Creative Artists Agency, Roc Nation Sports and Octagon, agents 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 capable of multitasking. It is very common for agents to be in negotiations on behalf of several clients at one time.[1]

Some agents are part of large companies, and some are on their own.[2] 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.

Before the 1990s, most soccer players did not use agents. In some cases, they used their fathers as agents. Because of most parents' naivete about the football business, these young footballers were often given less-than-stellar contracts by football clubs, which yielded lower salaries than they thought they deserved.[3] In Sweden, there were only three licensed agents in 1995.[4] As of 2002, there were 33. According to FIFA, there were 5,187 licensed association football agents world-wide, with 600 agents in Italy alone.[5] Since 2001, agents have not been licensed by FIFA. Instead, agents are now licensed directly by each association.

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.

Media depictions

The popularity of television shows such as Entourage, which stars a talent agent named Ari Gold, and Arliss, have helped glamorize the profession.[6] Prior to that, movies such as Jerry Maguire, Two for the Money, and Any Given Sunday depicted sports agents. In England, ITV's Footballers' Wives put a new spin on sports agents by casting a no-holds-barred female agent Hazel Bailey. The television show Ballers, which started in 2015, also shows a strong depiction of sports agents.

Due to the popularity of these works, there has been increase of attention in the profession. Former Prime Minister Tony Blair's son decided to become a football agent.[7]

Notable sports agents

American football

Football agent Drew Rosenhaus

Australian football

Baseball

Basketball

Cricket

European basketball

Association football

Golf

Ice hockey

Motorsport

Olympics

Notable former sports agents

Sports agency groups

There have been some efforts to transform the sports agency business from an individual, entrepreneurial business, to more of a corporate structure. These experiments met with varying degrees of longevity and success.

Formerly active agencies

Some sports agency firms were once prominent, but are now gone or reorganized:

  • Assante Corporation - Canadian public company that acquired the Steinberg, Moorad & Dunn agency, then acquired other than agencies including Dan Fegan & Associates and Maximum Sports Management in an unsuccessful effort to build multi-sport corporate agency.[43]
  • SFX Entertainment (now Live Nation, a publicly traded company) - in 1998 SFX agreed to pay up to $150 million in cash, stock, and bonuses for F.A.M.E., the sports agency run by David Falk, the agent for basketball players Michael Jordan and Patrick Ewing. SFX also acquired two other major sports agencies, Arn Tellem's agency (Tellem & Associates) and the baseball-oriented firm run by Randy Hendricks and Allan Hendricks.[44] SFX would later reverse course, and sell off the pieces of its large sports agency business.
  • Steinberg, Moorad & Dunn ("SMD") - a multi-sport agency sold in October 1999 for reported $120 million to Canadian financial firm. Defections of principals, and litigation, followed. Originally led by entrepreneurial agents Leigh Steinberg and Jeff Moorad.[45]

See also

References

  1. ^ Job Profiles.org - description of roles of sports agent and some educational programs to prepare for the field
  2. ^ An Industry Of Conglomerates Sports Agent Blog, July 16, 2007
  3. ^ "The Big Interview: Neil Webb" Sunday Times, Nov. 28, 2004, interview with soccer/football player
  4. ^ "Market Saturation of Agents", May 23, 2002, note: source can be translated into English on the website
  5. ^ [ FIFA - Players' agents list - by country]
  6. ^ "So, You Want To Be An Agent? The Entourage Effect" Sports Agent Blog, Dec. 4, 2008
  7. ^ "Blair's son to become a football agent" Nov. 28, 2009, The Independent
  8. ^ Hanzus, Dan (March 4, 2013). "Joe Flacco's Ravens contract includes $52M guaranteed". Around the League. NFL.com. Retrieved 2013. 
  9. ^ "Authentic Athletix Clients". AgentAA.com. Retrieved 2015. 
  10. ^ Meisel, Barry (April 28, 1996). "Toomer Catches Fancy Of Giants". New York Daily News. 
  11. ^ Butler, Steve (March 3, 2008); Show me the money, Ricky Nixon; Realfooty.com.au; Retrieved on March 14, 2009
  12. ^ "Agent says Boras' group 'stalking' his client - MLB - ESPN". Sports.espn.go.com. May 1, 2006. Retrieved 2011. 
  13. ^ Nicholson, Ben (December 23, 2010). "Nationals Sign Sean Burnett To Two-Year Extension: MLB Rumors". MLBTradeRumors.com. Retrieved 2011. 
  14. ^ McGrath, Ben (August 1, 2011). "Tampa Bay Ray's Late Bloomer Super Sam Fuld". The New Yorker. Retrieved 2011. 
  15. ^ "Interview with Matt Sosnick" SportsAgentBlog.com.
  16. ^ Gus Lubin (November 29, 2010). "The 12 Best Sports Agents In The World". Business Insider. Retrieved 2013. 
  17. ^ "Agents again at forefront of NBA labor dispute", CNN/SI, December 28, 1998, accessed June 16, 2007.
  18. ^ Migala, Dan. "Career Spotlight: David Falk", WorkInSports.com, June 4, 2001, accessed June 30, 2007.
  19. ^ Janowitz, Neil (March 9, 2012). "After Backing a Dark Horse, Lin's Agent Is Riding High". The New York Times. Retrieved 2012. 
  20. ^ "HoopsHype.com Agents". Retrieved 2008. 
  21. ^ Nets Star Has Deal to Play in Turkey;The New York Times, 7 July 2011
  22. ^ Perry, Michael (May 3, 1999). "Agents court Xavier star Posey". Cincinatti Enquirer. 
  23. ^ http://www.oleantimesherald.com/sports/bremer-still-leading-the-way-in-europe/article_b412b768-7ff2-11e1-92d4-001a4bcf887a.html
  24. ^ [1]; The Morning Journal. Bob Finnan. Retrieved July 31, 2008
  25. ^ [2] ESPN. Evan Alexander Demiriel. Retrieved July 23, 2011
  26. ^ a b Belzer, Jason (September 25, 2017). "The World's Most Powerful Sports Agents 2017". Forbes. Retrieved 2017. 
  27. ^ http://metro.co.uk/2013/06/21/top-10-influential-football-agents-from-pere-guardiola-to-jorge-mendes-3850506/
  28. ^ "How Tiger's Top Man is Managing the Crisis", Wall Street Journal, Dec 8, 2009, Wall Street Journal - subscription and fee may be required to access older articles
  29. ^ Reilly, Rick (June 23, 2011). "Golf's new era is here". ESPN.com. Retrieved 2011. 
  30. ^ Tait, Alistair (October 21, 2011). "McIlroy leaves Chandler's ISM for Horizon Sports". Golfweek. Retrieved 2011. 
  31. ^ NHL.com - Features
  32. ^ Michael Barnett
  33. ^ "Barnett joins Rangers' front office". New York Rangers. Retrieved 2014. 
  34. ^ "Top 10 Sports Agents -Ask Men.com
  35. ^ "Octagon Sports - Hockey - Team Bios - Allan Walsh". Octagonhockey.com. Retrieved 2013. 
  36. ^ "From The Executive Editor: The education of Peter Carlisle". Sports-agent-directory.com. Retrieved 2013. Template:Updated the dead link
  37. ^ "Colleen Howe, 'Mrs. Hockey', dies at 76". Associated Press. March 6, 2009. Retrieved 2009. [dead link]
  38. ^ Harig, Bob (July 17, 2011). "Darren Clarke returns in major triumph". ESPN.com. Retrieved 2011. 
  39. ^ "Former No. 1 draft pick Kwame Brown might be looking to make an NBA comeback". Retrieved . 
  40. ^ "Interperformances Expands in United States". Retrieved . 
  41. ^ "Jay-Z Launches Roc Nation Sports Teams With CAA to Co-Represent Robinson Cano". Variety. April 2, 2013. Retrieved 2013. 
  42. ^ "Wasserman Acquires Tellem Business; SFX Promotes Pelinka". Sports Business Daily. 2006-01-27. Retrieved . 
  43. ^ "These Drafts Come and Go, and So Do Agents' Fortunes" New York Times, April 28, 2003
  44. ^ ""Steinberg Sells Sports Firm" New York Times October 28, 1999". Nytimes.com. October 28, 1999. Retrieved 2011. 
  45. ^ "Crash Landing"- ESPN, by Peter Keating, article about Leigh Steinberg

Further reading


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