A sports agent is a person who procures and negotiates employment and promotion contracts for an athlete. In return, the agent receives a commission which is usually a percentage of the contract, although that number varies. In addition to looking for incoming sources, agents often handle public relations for their clients. In some major sports agencies, agents look at everything from investment to tax. There are pros and cons for temporary agreements and rolling agreements, and the correct term depends on a number of factors, including all past transactions with the agent/company, your goals to attract the agent on board (for example. B, the agent has an existing client base with current representation relationships), and the type of relationship you want to establish with the agent. Before entering into a contract with an agency or agent, the parties should have confidence that they have carried out the necessary due diligence audits of their potential new business partner. The apparent background checks will not only be important, including verification of references and registrations and publicly available regulatory information, but the representative or agency should also be able to have confidence in identifying and assessing the risks of all existing obligations and liabilities to third parties (particularly potential issues relating to termination or implementation of agreements). We have seen a number of disputes in the agency`s market related to some of the following topics (which is obviously not an exhaustive list): this is the first consultation article in a series that will focus on the football agency`s market. Brabners LLP works for a large number of agents, agencies and their player clients (with football clubs and non-players) and has advised on many important commercial and legal issues in the sports agency market, often in controversial and non-controversial contexts. How an agency pays an agent and the right to a commission are obvious and important issues that must be considered when entering into an agency agreement.
It is essential to ensure that the agreement reflects what was expected and what was agreed between the parties. You should think carefully about the following: this should not be an area of conflict or conflict. In our experience, clients are increasingly looking for the fairness and openness of these exit agreements to ensure a smooth transition at the end of their agreements. The key here is an open and honest and early discussion between the parties about their expectations regarding termination, especially with regard to agent/player relationships. It will be particularly important to decide whether Williamson remained a student-athlete when he signed the agreement with Prime Sports and is still protected by North Carolina law. Williamson declared himself a teammate for an NBA team on April 15, ending his status as an NCAA capable athlete. He signed the contract with Prime Sports on April 20, when he had probably renounced his amateur status and was no longer protected by state law.