Sports agent

{{Short description|Agent who procures and negotiates employment and endorsement contracts for an athlete}}

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A sports agent is a legal representative (hence agent) for professional sports figures such as athletes and coaches. They procure and negotiate employment and endorsement contracts for the athlete or coach whom they represent. In addition to contract negotiations, sports agents may also help their clients with financial planning, legal issues, and marketing. They may work closely with financial advisors, lawyers, and marketing professionals on behalf of their clients.

Description

Because of the unique characteristics of the sports industry, sports agents are responsible for communications with team owners, managers, and other individuals. In addition to finding income sources, agents often handle public relations matters for their clients. In some large sports agencies, such as IMG, Creative Artists Agency, Roc Nation Sports and Octagon, agents deal with all aspects of a client's finances, from investment to filing taxes.

Sports agents may be relied upon by their clients for guidance in all business aspects, and sometimes even more broadly. For example, hockey agents start recruiting clients as young as 15, allowing the agent to guide the athlete's career before the NHL draft, which happens usually at 18 years of age.

Due to the length and complexity of contracts, many sports agents are lawyers or have a background in contract law. Agents are expected to be knowledgeable about finance, business management, and financial and risk analysis, as well as sports. It is important for a sports agent to follow trends in sports. Other skills an agent must possess are excellent communication and negotiation skills. Agents must be highly motivated, willing to work long hours, and capable of multitasking. It is very common for agents to be in negotiations on behalf of several clients at one time.[http://www.jobprofiles.org/artsportsagent.htm Job Profiles.org] {{webarchive|url=https://web.archive.org/web/20100109035912/http://www.jobprofiles.org/artsportsagent.htm |date=January 9, 2010 }} – description of roles of sports agent and some educational programs to prepare for the field

Some agents are part of large companies, and some are on their own.[http://www.sportsagentblog.com/2007/07/16/an-industry-of-conglomerates/ An Industry Of Conglomerates] Sports Agent Blog, July 16, 2007 The number of clients an individual agent can handle and how many clients his or her employing agency can handle in total are interdependent variables.

Before the 1990s, most football players did not use agents. In some cases, they used their parents as agents. Because of most parents' naivety about the football business, these footballers were often given less-than-stellar contracts by football clubs, which yielded lower salaries than they thought they deserved.[https://archive.today/20110629112710/http://www.timesonline.co.uk/tol/sport/football/article396507.ece?token=null&offset=0&page=1 "The Big Interview: Neil Webb"] Sunday Times, November 28, 2004, interview with soccer/football player In Sweden, there were only three licensed agents in 1995.[http://sydsvenskan.se/sport/article18746/Marknaden-mattad-pa-agenter.html "Market Saturation of Agents"] {{webarchive|url=https://web.archive.org/web/20110810181903/http://www.sydsvenskan.se/sport/article18746/Marknaden-mattad-pa-agenter.html |date=August 10, 2011 }}, May 23, 2002, note: source can be translated into English on the website As of 2002, there were 33. According to FIFA, there were 5,187 licensed association football agents worldwide, with 600 agents in Italy alone.[ FIFA – Players' agents list – by country] Since 2001, agents have not been licensed by FIFA. Instead, agents are now licensed directly by each association.

Sports agents generally receive between 4 and 15% of the athlete's playing contract, and 10 to 20% of the athlete's endorsement contract, although these figures vary. NFL agents are not permitted to receive more than 3%, and NBA agents not more than 4%, of their client's playing contracts.

Media depictions

Films such as Jerry Maguire, Two for the Money, and Any Given Sunday depicted sports agents. In England, ITV's Footballers' Wives included a female agent Hazel Bailey. The television show Ballers, which started in 2015, also shows a strong depiction of sports agents.

Notable sports agents

=American football=

Image:Drew Rosenhaus.jpg]]

File:Leigh Steinberg speaking at Berkeley.png]]

=Australian football=

  • Ricky Nixon: former player, who was the AFL's first full-time player managerButler, Steve (March 3, 2008); [http://www.realfooty.com.au/articles/2008/03/03/1204402367117.html?page=fullpage#contentSwap2 Show me the money, Ricky Nixon]; Realfooty.com.au; Retrieved on March 14, 2009

= Baseball =

File:WER 4002 Scott Boras.jpg]]

=Basketball=

File:David Falk February 2013.jpg]]

=Cricket=

=European basketball=

=Association football=

=Golf=

  • Mark Steinberg: Clients include Tiger Woods; former head of golf division at IMG.{{cite news|title=How Tiger's Top Man is Managing the Crisis|work=The Wall Street Journal|date=December 8, 2009|url=https://online.wsj.com/home-page|url-access=subscription}}
  • Andrew Chandler: Former European Tour golfer. Clients include golfers Lee Westwood, Ernie Els, Darren Clarke, Louis Oosthuizen, Charl Schwartzel, and Christina Kim.{{cite web|url=https://www.espn.com/espn/rickreilly/news/story?id=6690774 |title=Golf's new era is here |first=Rick |last=Reilly |author-link=Rick Reilly |publisher=ESPN |date=June 23, 2011 |access-date=June 23, 2011}} Rory McIlroy was a client of Chandler until October 2011, when he left for Dublin-based Horizon Sports Management.{{cite web|url=http://www.golfweek.com/news/2011/oct/21/mcilroy-leaves-ism-chandler-horizon-sports/ |title=McIlroy leaves Chandler's ISM for Horizon Sports |first=Alistair |last=Tait |work=Golfweek |date=October 21, 2011 |access-date=November 21, 2011}}

=Ice hockey=

=Motorsport=

=Olympics=

Notable former sports agents

{{more citations needed section|date=September 2017}}

File:Joe Kehoskie (September 2018).jpg]]

  • Nachi Gordon, basketball
  • Colleen Howe (deceased): ice hockey, late president of Power Play International and Power Play Publications managing hockey careers and business interests of her husband Gordie Howe and their sons Marty and Mark Howe.{{cite news|title=Colleen Howe, 'Mrs. Hockey', dies at 76|url=https://www.google.com/hostednews/ap/article/ALeqM5jgebG1zi1hYb3JbMJJZS4PpQuH6AD96OQDA00|agency=Associated Press|date=March 6, 2009|access-date=March 7, 2009}}{{dead link|date=June 2024|bot=medic}}{{cbignore|bot=medic}}
  • Joe Kehoskie (now baseball consultant/executive): Small agency; frequent media appearances regarding Cuban defectors and baseball in Latin America.{{cite web |last1=Simpson |first1=David Mark |title=Mexican Baseball Is Finally Eliminating One of the Worst Unwritten Rules in Sports |url=https://www.vice.com/en/article/53xmgq/mexican-baseball-is-finally-eliminating-one-of-the-worst-unwritten-rules-in-sports |website=Vice.com |publisher=Vice |access-date=1 December 2015 |date=1 December 2015}}
  • Camilo Marin (deceased): Cuban-born horse racing agent. Clients included Laffit Pincay Jr., Braulio Baeza, Jorge Velásquez and Manuel Ycaza.
  • Mark McCormack (deceased): American golf agent, and principal originator of modern sports agency industry.{{Citation needed|date=September 2007}} First client was Arnold Palmer. Founded IMG (originally "International Management Group").
  • Jeff Moorad: Former baseball agent and former partner of Leigh Steinberg, now baseball executive and part-owner of San Diego Padres.
  • Rob Pelinka: Former basketball player at the University of Michigan. Clients include Kobe Bryant, Carlos Boozer, and Buddy Hield. Pelinka stepped down from being an agent to be run the Los Angeles Lakers in March 2017.
  • Charles C. Pyle (deceased): American football; clients included Red Grange and Wildcat Wilson; founder of first American Football League (1926).
  • Mino Raiola (deceased): Dutch-based Italian association football agent. His notable clients included Paul Pogba, Zlatan Ibrahimović, Mario Balotelli, and Pavel Nedvěd.{{cite news |title=Mino Raiola, one of football's most powerful agents, dies aged 54 |url=https://www.theguardian.com/football/2022/apr/30/mino-raiola-one-of-footballs-most-powerful-agents-dies-aged-54 |access-date=April 30, 2022 |work=The Observer |date=April 30, 2022}}
  • Gary Wichard (deceased): American football, three dozen clients, the inspiration for the movie Jerry Maguire.

Sports agency groups

There have been some efforts to transform the sports agency business from an individual, entrepreneurial business, to more of a corporate structure. These experiments met with varying degrees of longevity and success.

  • Allegiant Athletic Agency – representing NBA and NFL players
  • Creative Artists Agency: "CAA" – acquired various pieces of the sports agency business of SFX (see below), starting with football.
  • IMG – International Management Group – corporate agency established by entrepreneur Mark McCormack, originally with a specialization in golf and tennis. After the death of McCormack the company was acquired by private equity group Forstmann Little.
  • Infront - international sports rights vendor, representing Serie A, FIFA, and others.{{cite web|url=https://www.sportspromedia.com/news/serie-a-international-rights-infront-worth-img-bein-sports|title=Serie A international rights snapped up by Infront for '€139m a year' |publisher=SportsPro Media|date=April 6, 2021|access-date=2021-04-26}}
  • International Sports Management – British sports agency run by former European Tour golfer Andrew "Chubby" Chandler.{{cite web|url=https://www.espn.com/golf/britishopen11/story/_/id/6777422/darren-clarke-returns-major-triumph-open-championship |title=Darren Clarke returns in major triumph |first=Bob |last=Harig |publisher=ESPN |date=July 17, 2011 |access-date=July 18, 2011}}
  • Priority Sports and Entertainment - Agency representing the most NBA players, run by Mark Bartelstein.
  • Roc Nation Sports – sports agency founded in 2013 by Shawn Carter, better known as Jay-Z. Currently in partnership with CAA; first client signed was Robinson Canó.{{cite magazine|url=https://variety.com/2013/more/news/roc-nation-launches-roc-nation-sports-teams-with-caa-to-co-represent-robinson-cano-1200331923/ |title=Jay-Z Launches Roc Nation Sports Teams With CAA to Co-Represent Robinson Cano |magazine=Variety |date=April 2, 2013 |access-date=April 2, 2013}}
  • Rosenhaus Sports - sports agency run by Drew Rosenhaus.
  • Sportfive, formerly Lagardère Sports and Entertainment – international sports agency, sports consulting and event management, active in the football, tennis and golf markets.
  • Sports Management Worldwide – international sports agency{{cite web|title=Our Mission and Values|url=https://smwwagency.com/our-mission-and-values|access-date=2020-12-07|website=smwwagency.com|language=en}} and private for-profit sports management training institution,{{cite web|url=https://www.bizjournals.com/portland/stories/2006/07/10/smallb1.html|title=Good, profitable sports|access-date=2020-12-07|website=bizjournals.com}} founded and run by Lynn Lashbrook.
  • Wasserman Media Group (WME) - acquired Arn Tellem's basketball agency from SFX, and usually represents the most players in NBA lottery draft each year.{{cite web |url= http://www.sportsbusinessdaily.com/Daily/Issues/2006/01/Issue-90/Sports-Industrialists/Wasserman-Acquires-Tellem-Business-SFX-Promotes-Pelinka.aspx|title= Wasserman Acquires Tellem Business; SFX Promotes Pelinka |work= Sports Business Daily |date=January 27, 2006 |access-date=2017-08-07}}
  • Imago Sports Management - Imago Sports Management is a Bangladeshi talent and sports based agency.[http://www.dhakatribune.com/magazine/2016/11/07/the-business-of-sports/ The business of sports | Dhaka Tribune]

=Formerly active agencies=

Some sports agency firms were once prominent, but are now gone or reorganized:

  • Assante Corporation – Canadian public company that acquired the Steinberg, Moorad & Dunn agency, then acquired other than agencies including Dan Fegan & Associates and Maximum Sports Management in an unsuccessful effort to build multi-sport corporate agency.[https://www.nytimes.com/2003/04/26/sports/pro-football-these-drafts-come-and-go-and-so-do-agents-fortunes.html?scp=14&sq=assante%20sports&st=cse "These Drafts Come and Go, and So Do Agents' Fortunes"] The New York Times, April 28, 2003
  • SFX Entertainment (now Live Nation, a publicly traded company) – in 1998 SFX agreed to pay up to $150 million in cash, stock, and bonuses for F.A.M.E., the sports agency run by David Falk, the agent for basketball players Michael Jordan and Patrick Ewing. SFX also acquired two other major sports agencies, Arn Tellem's agency (Tellem & Associates) and the baseball-oriented firm run by Randy Hendricks and Allan Hendricks.{{cite news|url=https://www.nytimes.com/1999/10/28/sports/steinberg-sells-sports-firm.html |title=Steinberg Sells Sports Firm|work=The New York Times|date=October 28, 1999|access-date=October 6, 2011}} SFX would later reverse course, and sell off the pieces of its large sports agency business.
  • Steinberg, Moorad & Dunn ("SMD") – a multi-sport agency sold in October 1999 for reported $120 million to Canadian financial firm. Defections of principals, and litigation, followed. Originally led by entrepreneurial agents Leigh Steinberg and Jeff Moorad.[https://www.espn.com/magazine/vol5no07steinberg.html "Crash Landing"]- ESPN, by Peter Keating, article about Leigh Steinberg

See also

References

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Further reading

  • [https://web.archive.org/web/20140311181611/http://apps.americanbar.org/abastore/index.cfm?pid=1620552§ion=main&fm=Product.AddToCart How to Play the Game: What Every Sports Attorney Needs to Know], by Darren Heitner, 2014, ABA Book Publishing, {{ISBN|978-1-61438-916-3}}
  • [https://books.google.com/books?id=uC2Lq8aTKhIC&q=%22sports+agent%22 The Business of Sports Agents], by Kenneth L. Shropshire, Timothy Davis, 2008, University of Pennsylvania Press, {{ISBN|978-0-8122-4084-9}}
  • License to Deal: A Season on the Run with a Maverick Baseball Agent, by Jerry Crasnick, 2005, Rodale Books, {{ISBN|978-1-59486-024-9}}
  • An Athlete's Guide to Agents: 5th Edition, by Bob Ruxin with Darren Heitner, 2009, Jones and Bartlett, {{ISBN|978-0-7637-7611-4}}
  • [https://books.google.com/books?id=HHTUNAAACAAJ&q=%22sports+agent%22 How To Be A Sports Agent], by Mel Stein, 2008, High Stakes Publishing, {{ISBN|978-1-84344-045-1}}
  • [https://www.amazon.com/Football-Agent-hilarious-revealing-personal/dp/8269009903/ref=sr_1_1?ie=UTF8 The Football Agent], by Knut Høibraaten, 2015, HHH Forlag, {{ISBN|978-8-26900-990-3}}

{{Sport}}

{{Authority control}}

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Category:Business occupations

Agent