What are the duties of a sports agent?
Duties of an agent include representing athlete clients in business deals and contract negotiations. Other agent duties include reading contracts, offers, explaining contracts, and bonus structures to clients. Handling sports marketing and promotional activities and resolving public relations issues such as bad press, rumors, and other items, as well as signing top athletes and assessing new talent.
What skills do you need to be a sports agent?
New requirements for sports agent certification include Bachelor’s Degree and certification exams by NFL and NBA leagues. Additional soft skills include experience managing people and understanding the issues athletes face. Strong contract negotiation and persuasive skills. Excellent sports knowledge. Excellent time management and organizational skills. Advanced technological understanding examples include video editing, internet understanding, and, lastly, substantial business expertise.
How much do sports agents get paid?
4 and 10% of the sports athlete’s new contract, and 10 to 20% of the athlete’s endorsement contract. These figures are not concrete!
NATIONAL FOOTBALL LEAGUE (NFL) agents are not ALLOWED to receive more than 3%. National Basketball League sports agents must not charge more than 4% of their clients playing contracts.
Is a sports agent a good career?
If you like sports or enjoy negotiations and building business relationships, a career as a sports agent can be an excellent choice.
How do athletes find agents? The NBA players association as a list of certified agents directory – https://nbpa.com/agents/directory
Spotrac, which tracks player contracts in several sports, has a list of agents and their earnings. https://www.spotrac.com/nfl/agents/
- What are the benefits of being a sports agent?
- How do I become an NFL sports agent?
- Requirements
Non-refundable app fee – $2,500.00
Undergraduate AND Post Graduate degree (Masters of Law) from an accredited college/university (see FAQs)
- Authorization to perform a background investigation
- Mandatory two day NFL Sports Agent seminar in Washington, D.C.
- A successful passing score of a written multiple-choice examination
- Valid email address
20 Minute Video on How to Choose an Agent
What is the NFL Sports Examination?
The test will ask about the CBA, NFL Salary Cap, NFL Player Specific Benefits, NFLPA Regulations Governing Contract Advisors, Substances of Abuse & Performance Enhancing Substances Policies, and other issues relevant to the player representation. It is a sixty (60) question multiple-choice examination and has a time constraint limit of three (3) hours. It is an open book test that allows you to use prepared studying notes while you take the exam. Testing will be on the second day of the seminar immediately after lunch.
Source documents needed for the seminar/lecture and examination will be mailed several weeks after the application period closes. Do not contact the NFLPA to get the documents earlier.
Test results are available eight weeks after the examination. A passing score is 70 or higher and is scaled. As per the regulations, you are not allowed or prohibited from recruiting, signing, or representing any players until you have been notified that you have passed the exam, paid the required annual fee, and obtained the required liability insurance.
How many hours do sports agents work?
A right agent is on call at all times, sometimes 24/7 if it is during peak free agency periods. They can be labeled as sports agents, but often act as advisors, father figures, coaches, and life coaches. This is why you must choose wisely.
Do you have to go to law school to be a sports agent? You do not need to s a law student nor have a law degree, but you must meet the league certification requirements, which vary from league to league.
How do I start a sports agency?
To start an agency, you will need to be certified by the league of players you represent. Additionally, you will need to have a business license, proper web presence, and a track record that shows integrity, discipline, and a high level of competency in business.
Are sports agents lawyers?
Some, but not all. Sports agents with law degrees, specifically in contract law, should be beneficial. But this is not a requirement. All sports agents are not lawyers! Many agents do not have a degree; some have a business and marketing specific degrees, but not all. The NFL made it a requirement that all future agents must have a degree.
Can you become a sports agent with a sports management degree? You can; you will then need to go through a league specific certification process.
Is Souletics a Sports Agency? No, we are not. We are a consulting, mental training for athletes and talent evaluation organization. Our focus is providing athletes and professional organizations with the best possible advice to ensure that each athlete maximizes his athletic ability and earning potential, and that the organization can realize the investment they make in their chosen athletes. In simple terms, we provide analytical insights and advice so athletes can succeed in the professional sporting world.
Why do athletes have agents?
Most athletes acquire the service of agents because they feel this will assist them in securing a sports contract. This is partly true as an agent does not guarantee an opportunity at the professional sports level, but that can help you in understanding your value as a professional athlete and in negotiations.
How many years does it take to become a sports agent? To be an NFL agent, you need seven years of negotiation experience. For the NBA and MLB, you must go through certification progress that includes understanding specific sports league governing regulations, submitted a nonrefundable application fee of $1500 (NBA), $2000 (MLB), $2500 (NFL), agreeing to a background check, passing a written examination, and having an approbate educational background.
- For more information – MLB – https://registration.mlbpa.org/, NBA – https://nbpa.com/agents/becoming-an-agent, NFL – https://www.nflpa.com/agents/faq
Who is the richest sports agent?
|
AGENCY |
CLIENTS |
AVG 2020 SALARY |
EARNINGS |
|
CAA Sports |
143 |
$4,750,052.00 |
$3,822,877,651.00 |
|
Athletes First |
123 |
$3,486,122.00 |
$2,170,648,944.00 |
|
Relativity Sports |
33 |
$6,255,222.00 |
$1,435,954,440.00 |
|
Lagardere Unlimited |
29 |
$6,449,589.00 |
$1,157,569,382.00 |
|
SportStars |
94 |
$2,648,408.00 |
$1,016,388,389.00 |
|
Rep 1 Sports |
44 |
$3,733,598.00 |
$845,743,475.00 |
|
Rosenhaus Sports |
53 |
$3,466,326.00 |
$800,677,750.00 |
|
Wasserman Media Group |
52 |
$2,286,445.00 |
$710,952,282.00 |
|
Priority Sports & Entertainment |
34 |
$3,020,509.00 |
$526,147,916.00 |
|
SportsTrust Advisors |
28 |
$3,067,740.00 |
$461,217,719.00 |
|
Roc Nation Sports |
17 |
$4,189,255.00 |
$413,643,428.00 |
|
Bus Cook Sports |
31 |
$1,787,264.00 |
$388,455,654.00 |
|
Select Sports Group |
33 |
$3,188,880.00 |
$377,023,844.00 |
|
Yee & Dubin Sports |
11 |
$4,647,261.00 |
$346,877,742.00 |
|
Young Money APAA Sports |
41 |
$1,891,193.00 |
$339,653,133.00 |
|
DEC Management |
20 |
$2,459,660.00 |
$334,075,018.00 |
|
Impact Sports |
11 |
$4,666,943.00 |
$317,944,695.00 |
|
JL Sports |
27 |
$1,545,473.00 |
$308,426,285.00 |
|
Schwartz & Feinsod |
15 |
$2,255,215.00 |
$277,214,693.00 |
|
Eastern Athletic Services |
22 |
$2,308,368.00 |
$243,921,091.00 |
|
MS World |
10 |
$3,288,239.00 |
$205,904,304.00 |
|
Lagardere Sports |
29 |
$2,298,726.00 |
$201,638,649.00 |
|
LMM Sports Management LLC |
5 |
$5,038,667.00 |
$193,939,231.00 |
|
Terra Firma Sports Management |
9 |
$2,748,704.00 |
$174,840,177.00 |
|
BTI Sports Advisors |
22 |
$1,222,223.00 |
$172,431,735.00 |
|
NC Sports |
7 |
$6,521,279.00 |
$164,078,480.00 |
|
Elite Athlete Management |
11 |
$3,672,089.00 |
$127,148,108.00 |
|
XAM Sports |
7 |
$3,911,286.00 |
$124,607,963.00 |
|
Octagon |
31 |
$1,042,687.00 |
$124,444,355.00 |
|
Sun West Sports |
6 |
$3,540,925.00 |
$120,492,211.00 |
|
Vanguard Sports Group |
6 |
$4,606,116.00 |
$117,199,018.00 |
|
Enter-Sports Management |
15 |
$1,940,010.00 |
$112,990,567.00 |
|
Universal Sports & Entertainment |
12 |
$1,874,013.00 |
$111,248,415.00 |
|
ProStar Sports Agency |
4 |
$2,251,802.00 |
$105,283,668.00 |
|
Premier Sports |
4 |
$2,426,213.00 |
$102,148,995.00 |
|
Exclusive Sports Group |
19 |
$1,508,591.00 |
$98,910,130.00 |
|
Element Sports Group |
18 |
$1,582,969.00 |
$96,734,146.00 |
|
Allegiant Athletic Agency |
14 |
$1,480,236.00 |
$94,402,609.00 |
|
Perennial Sports |
11 |
$1,643,489.00 |
$94,188,983.00 |
|
Caric Sports Management |
18 |
$972,752.00 |
$93,478,190.00 |
|
Alliance Sports Management |
7 |
$2,331,630.00 |
$85,001,565.00 |
|
The NOVO Agency |
4 |
$5,296,385.00 |
$82,561,956.00 |
|
Willis & Woy |
3 |
$3,261,765.00 |
$81,739,538.00 |
|
Integrated Sports Management |
2 |
$2,145,833.00 |
$79,053,446.00 |
|
Younger & Associates |
2 |
$11,695,667.00 |
$74,081,132.00 |
|
Morris Yorn Barnes Levine |
1 |
$11,050,000.00 |
$69,400,000.00 |
|
Athletic Resource Management |
1 |
$12,666,666.00 |
$65,514,171.00 |
|
The Institute for Athletes |
6 |
$1,962,795.00 |
$65,063,457.00 |
|
Paramount Sports |
4 |
$4,405,248.00 |
$61,979,804.00 |
What questions should I ask a sports agent?
- Do they meet league required standards?
- Is this sports agent certified by the league?
- Are they a one-stop-shop?
-
- Accounting
- Legal
- Marketing
- Investments
- Retirements
- It may seem like a good idea to have an agency that has everything under one umbrella. But often this can cause problems when everyone has a vested interest in your money and investments. For example, if your agent also provides you with a stake and retirement person, does the agent get a cut of your investment? Are they benefiting from you having that relationship with the retirement expert? If everything is under one umbrella, you must get clarity on how that relationship works. It might be wise to keep things separate and align yourself with proven professionals that have a track record of making money and not only investing athletes’ money.
- What kind of background do they have?
-
- Business Degree
- Technology Degree
- Law Degree
- Marketing Degree
- Did they play sports?
- What is their reputation?
- Do they have a web presence?
- Are they on Linkedin?
- Do they already represent players?
- How many players do they represent?
- Is this their full-time occupation?
- Can you represent yourself?
- Can your father or mother represent you?
What are some of the more popular sports agencies?
Some of the more reputable sports agencies include, but are not limited to. NBA – IMG, Creative Artists Agency, Roc Nation Sports and Octagon, Eugene E. Parker, Drew Rosenhaus, Leigh Steinberg MLB – Scott Boras, Arn Tellem, Basketball – Jeff Austin is head of Octagon‘s basketball division, Bill Duffy, David Falk, Leon Rose now with the Knicks – European Basketball, Soccer/Futbol have a different set of agents. Agents like Bill Duffy, as well as others, have international divisions.