Sports Agent
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Sports Agent By: Ryan Figueroa What is this profession about? A sports agent represents interest of the athletes that they represent.They handle negotiations, sponsorships, public relations, and financial planning.The professional athletes they represent often sign their first professional contracts in their late teens or early 20s and have no real experience or education to fully understand the legal complexities involved.Those athletes need guidance handling their finances, especially when those contracts are worth hundreds of thousands or millions of dollars. Some responsibilities and duties sport agents need to be good at to succeed in this career are negotiating contracts, collecting and analyzing statistics, having a great knowledge of their athletes’ sports, and promoting and creating sale opportunities for their athletes. History of this profession Sports agency is traced back to November 22,1925 when a professional football player named Red Grange hired an agent to negotiate his professional football contract. Grange was the first football player to have a personal representative, or now known as an agent, to work out a performance contract. He was the first professional athlete in team sports whose pay was linked with the number of fans his fame and performance attracted to the games. In today’s world, that’s every professional athlete.The contract was for one hundred thousand dollars and a share of the gate in a period when most professional football players were getting twenty-five to a hundred dollars a game and that was if they were paid at all. In the 1960s, attorney Mark McCormack worked with young golfer Arnold Palmer and changed the manner in which sponsors dealt with professional athletes. McCormack, was the founder of International Management Group (IMG) and believed the popularity and marketability of athletes would transcend borders, cultures, language, even sports itself.His athletes were the first to endorse clothing, watches, and motor oil. They would play exhibition matches around the world and give inspirational talks to business at a hefty price tag. Education for sport agency Sports agents need to have the legal and financial experience and skills to craft documents that best fit their athletes’ needs because their contracts can be complex. A law degree is the best path in this career because contract negotiations are such an important aspect of the job. For sport agents, having a legal foundation is important. Many sports agents are graduates of sports management programs at the undergraduate level, then go on to add a law degree after they graduate. Agents who don’t have a law degree would then need to work with someone who does have the legal expertise to review the athlete’s contracts. Certifications for a sport agent Depending on the league or players association, it is required that the sport agents are certified in order to represent players. These certifications are different depending on the league and sport. For example, if your wanting to be a sport agent for a baseball player in the MLB, you must: 1) Read, understand and agree to the MLBPA Regulations Governing Player Agents 2) Complete the Application for MLBPA Certification 3) Submit a non-refundable Application fee of $2,000 4) Submit a signed “Declaration by Applicant” and, in the case of an applicant for General Certification, a copy of your Agency’s Representation Agreement 5) Authorize the performance of a background investigation 6) Successfully pass the background investigation 7) Pass the written examination 8) Be designated as the Agent of a Major League Player, or designated by a General Certified agent as a Recruiter, Client Maintenance Service Provider, or Expert Agent Advisor. Sport Agent Salary Few agents can make millions representing high-profile athletes who sign contracts worth millions of dollars, but most agents are working with athletes on a smaller scale. This profession is commision based so the saying goes, “You don’t get paid until your athlete gets paid”. Average Starting Annual Salary: $60,000 Average 10% Annual Salary: $90,000-$110,000 Bottom 10% Annual Salary: $27,000 The highest-paid MLB agent is Scott Boras, who earned $118.8 million in commissions from $2.4 billion worth of player contracts. Boras is the only sports agent in the world with more than $2 billion in active player contracts and he has 176 clients. Best Schools and Institutions ● Rice University, Houston, TX - $23,202/year - SAT Range: 1450-1560 ● University of Michigan, Ann Arbor, MI - $16,856/year - SAT Range: 1330-1510 ● Southern Methodist, Dallas, TX - $38,562/year - SAT Range: 1280-1460 ● Grand Canyon University, Phoenix, AZ - $21,403/year - Acceptance Rate: 73% ● North Carolina State University, Raleigh, NC - $14,771/year - SAT Range: 1250-1390 ● University of Florida, Gainesville, FL - $11,313/year - SAT Range: 1280-1440 ● University of Miami, Coral Gables, FL - $43,305/year - SAT Range: 1250-1430 ● Florida State University, Tallahassee,FL - $13,318/year - SAT Range: 1200-1350 ● University of Georgia, Athens, GA - $15,539/year - SAT Range: 1240-1410 ● Clemson University, Clemson, SC - $19,508/year - SAT Range: 1220-1400 ● University of South Carolina, Columbia, SC - $20,181/year - SAT Range: 1190-1360 Scott Boras He is one of the world's top negotiators, with more than $2.4 billion in current major league baseball contracts. Boras attended Pacific McGeorge School of Law. He has negotiated 11 contracts worth more than $100 million, more than any other agent. He negotiated Bryce Harper's $330 million deal with the Philadelphia Phillies and Max Scherzer's $210 million deal with the Washington Nationals. Boras is head of his own agency called the Boras Corporation, the world's top baseball representation agency. Scott Boras Notable clients ● Carlos Beltran ● Kevin Brown ● Anthony Rendon ● Gerrit Cole ● Alex Rodriguez ● Johnny Damon ● Kenny Rogers ● Darren Dreifort ● Max Scherzer ● J.D. Drew ● Stephen Strasburg ● Stephen Drew ● Jason Varitek ● Mike Gonzalez ● Jarrod Washburn ● Bryce Harper ● Jeff Weaver ● Derek Lowe ● Jered Weaver ● Kevin Millwood ● Bernie Williams ● Magglio Ordonez ● Chan Ho Park Pros and Cons of Sport Agency Pros: Cons: ● Interact with professional athletes ● Salary can vary dramatically and sports ● Lots of negotiating ● Salary and big commissions off huge ● Patience and persistence contracts ● Work schedule ● Develop people skills and sale skills ● Competitive field.