NBA Agent Lawyers

Colleges have professional sports counseling panels that can provide valuable information on how to select and screen agents. You can find certified agents through the National Basketball Players Association (NBPA) if you are a high school athlete.

Terms and Conditions of the Agreement

You should clearly understand the terms and conditions of the agreement between you and your agent. Provisions included in an agent’s agreement to provide services include:

• Duration of the agreement and renewal provisions
• Details of dispute resolution should such a situation arise
• Whether the agent has exclusive rights to handle all contracts
• Terms of agent compensation
• Who is responsible for the agent’s expenses
• Procedure for termination of agent services

Criteria for Selecting an Agent

When selecting an agent, consider the following criteria:

• Determine what services you need from an agent and a reasonable price for those services
• The agent’s educational background, training, and work experience
• The agent’s reputation
• Devotion to your interests
• An agent who will involve your family in the decision-making process
• Making you feel comfortable

What Types of Resources Are Available to Athletes?

It is possible to find a variety of firms that can assist athletes in planning their financial futures and investing appropriately. These services include tax preparation, bill payment, cash-flow management, investment management, and financial planning.

Why Do Many Pro Athletes Have Such Serious Financial Problems?

Since athletes are on the road quite a bit, they don’t deposit paychecks regularly. It is not uncommon for athletes to run into difficulties, such as the termination of their utilities. To avoid these problems, athletes should retain the services of a financial services provider, especially one that provides direct deposits.

Should Cash-Flow Management Be a Priority for Athletes?

Without a doubt. There may not be another career lined up for athletes after retirement, as their careers do not last as long as those of a typical full-time, salaried employee. While athletes should refrain from making a lot of frivolous purchases, they need to start saving immediately for the future.

If an Athlete Is Traded, Can He Retain the Same Services?

Yes, provided the firms providing the services are licensed in the state where he was traded.

How Can Sports Lawsuits Be Successful?

There are exceptions to the primary assumption of risk defense when it comes to personal injury lawsuits by athletes. An athlete’s personal injury claim may be justified in the following circumstances:

1. The athlete was unaware that the alleged activity contained an inherent risk
2. The athlete’s coach was negligent in providing instruction on technique
3. The sports facility was negligent in providing a reasonably safe environment

Contracts in Sports Law

Sports law is heavily influenced by contract law. It is a legal requirement for all professional athletes to have contracts specifying how much they will be paid and for how long they will perform for a specific team. In sports law, contracts are typically worth substantial sums of money, and therefore, sports agents are heavily involved in negotiating them.

Sports Agents

Agents negotiate advantageous contracts on behalf of professional athletes. In most cases, the agent-athlete relationship is governed by a Standard Representation Contract. In the Standard Representation Contract, the agent’s duties and compensation are defined. Most state legislatures require agents to register with an administrative agency in order to regulate their activities.

Sign New Players

Tom Cruise’s movie “Jerry Maguire” illustrates the troubles an agent can face when signing and retaining players. For sports agents to find new clients, they must stay on top of the latest sports news. In order to meet with athletes, they will fly across the country and around the world.

Agents must know how to present themselves to convince athletes to sign with them. In order to convince these players that they can get the best contract and endorsement deals, they can spend hours meeting with them. Every day, agents spend time with athletes’ families. Athletes are convinced that they represent their interests and care about their best interests.

After meeting their families, agents will work harder to help players get the best contract deal. A sports agent should prepare players for what happens after signing a contract. It is common for athletes to stay with the same agent throughout their athletic careers.

Agents will help athletes find jobs even after they retire:

• Coaching jobs
• Sports analyst jobs
• Broadcasting jobs

Negotiate Salaries

Negotiating salaries is another aspect of what a sports agent does. Blockbuster athlete contracts become major news each time they are signed.

Here are some notable contracts:

• 2019: Damien Lillard, NBA’s Portland Trailblazers, the largest contract in NBA history with a six-year $257 million deal
• 2019: Mike Trout, MLB’s Los Angeles Angels, one of the largest sports contracts with a 12-year $430 million deal
• 2020: Patrick Mahomes, NFL’s Kansas City Chiefs, 10-year $450 million contract, which set a new sports contract record

Leigh Steinberg was involved in the negotiation of Patrick Mahomes’ contract.

It is unlikely that most athletes will earn this much money. Contracts and endorsement deals can earn many millions of dollars. Without a good sports agent, none of this would be possible. It is for this reason that athletes never represent themselves in negotiations.

A good sports agent will promote an athlete’s career. They will raise their public profile to increase their market value to sports teams and companies. A player’s agent will look at what they are asking for. A team’s offer is also taken into account. They negotiate a deal that will make both sides happy.

During tough contract negotiations, an agent might look at offers from other teams to help get the best deal for their client.

The agent will negotiate endorsement deals on behalf of the player with one or more companies. Advertisers often use athletes to promote their products. Athletes can endorse a wide variety of products.

This includes:

• Sports equipment
• Clothing
• Clothing accessories
• Food
• Automobiles
• Technology

Athletes are also bound by a number of obligations when they sign endorsement deals. The athlete becomes a company representative for the duration of the contract. The athlete attends several public events as a guest. Everywhere they go, they promote the company’s products.

There is a lot of money to be made from endorsement deals. Athletes can earn as much or more money endorsing products as they can playing their sport. This can be accomplished with the help of a good sports agent.

Become a Sports Agent

You might be interested in becoming a sports agent after learning what they do. In order to become a sports agent, you do not need to have played organized amateur or professional sports. Sports agents do not even need athletic skills. However, it is to your advantage if you have some experience playing organized sports. You will better understand what athletes have to go through to achieve success.

To become a sports agent, you must earn a bachelor’s degree. Any field can be studied for a degree. A degree in business, finance, marketing, or economics with a focus on sports management is ideal. Sports management can be divided into two categories. The business of sports is a focus of some sports management programs. There are also programs that focus on sports facilities and exercise management. You should enroll in a program that focuses on sports business.

As you pursue your bachelor’s degree, you should look for internship opportunities with sports agencies. It is possible to gain some inside knowledge about how sports agents work through an internship. As a result of an internship, you will also have the opportunity to network. You can get an insider’s view of job openings this way.

You will likely receive information on becoming a licensed and registered agent in your state during your internship. A license will make you more marketable to sports agencies who are looking to hire new agents. Plus, states and most professional sports leagues require sports agents to have a license. Licensing requirements vary by state. It always involves a background check and registration fees.

Attending law school is the next step. A law school education is excellent preparation for a career as a sports agent. This course teaches you a lot about contract law and how to negotiate. Sports agents are primarily responsible for negotiating contracts. Studying sports law or sports management would be a good choice for you. You can substitute entertainment law or entertainment management if your law school does not offer these programs. In order to work as an attorney and represent clients in court, you will need to pass the Bar Exam after law school.

Obtaining a master’s degree is highly recommended if you do not wish to go to law school. You can gain leadership skills through a master’s degree program in business administration. It can be used to advocate for and negotiate the best deal for your client. There are also a lot of internship opportunities in MBA programs. Taking advantage of that will allow you to gain industry experience.

Do I Need a Lawyer?

Because no agent associations regulate the agent industry, you should be careful when signing an agreement. It is not uncommon for sports agents to also be lawyers.

However, if you have questions about hiring an agent or signing an agreement, contact an entertainment lawyer. A sports lawyer skilled in the art of negotiation will be able to help with your concerns before starting your professional sports career.