1.01 Roles of a Sport Agent

Agents legally represent athletes and entertainers in contract negotiations. Most are attorneys or accountants or both.

◦Agents are paid a percentage of the athlete or entertainer’s earnings.

The Agent

There are federal and state laws that regulate agents. Many states and most leagues require agents to register with the league as an agent.

Contracts are agreements enforceable by law that detail the transaction of business.

A written contract between a student-athlete hoping to enter pro-sports and an agent is required to indicate the fees and percentages to be paid.

Rules and Regulations for Agents

Examples:

All NFL player-contract advisers are fully regulated by the NFL Players Association (NFLPA) and cannot do business with out NFLPA certification and approval.

Florida requires potential athlete agents to complete an application, pay fees, and pass an examination.

Rules and Regulations for Agents

An agent can place the player in contact with trainers.

An agent can make sure the teams and media are receiving the right message about the player.

An agent can negotiate complex contracts Credited for high salaries for their client

Advantages of Agents

Agents contacting or paying student-athletes.

Ex: Former IU cornerback and current NFL free agent Ray Fisher said he was offered money from an agent while he played for the Hoosiers.

He never accepted anything, hesaid, but the calls from agentswere overwhelming.

Problems with Sport Agents