What Channel Does The Washington Football Team Play On Today 10 Tips to Choose Between Sports Agent Firms

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10 Tips to Choose Between Sports Agent Firms

Is the agent or agency that is recruiting you registered to practice as an agent or agency in your state?

For the NFL, sports agent companies must be registered with the National Football League Players Association (NFLPA) to negotiate a contract for a player. The Uniform Athlete Agents Act, or UAAA, is a state law currently recognized by 40 states (as of April 2011), plus Washington DC and the US Virgin Islands, regulating the recruiting actions of agents.

The purpose of the Act is to create uniformity in the way sports agent firms recruit and communicate with potential clients. Part of the Act requires sports agents to register in each state in which they choose to recruit athletes.

If you are in a state where the UAAA is not recognized, ask them if they are registered in that particular state (if applicable). If you are already a professional athlete, prospective agents do not have to register with your state.

Have you ever been disbarred, suspended, or disciplined as an attorney or agent?

While bad things sometimes happen to good people, it’s good to know if the sports agent firm you’re considering has ever been sanctioned, suspended, or debarred (if you’re also a lawyer). Research the attorney or agent and feel free to mention what you have learned. There may be a good explanation for what happened, but it’s important that you feel comfortable with them and their history.

What is your rate? Is your rate negotiable? How and when do I get billed for your services?

Do you provide any type of annual declaration to your clients?

Sports agent firms typically bill a percentage of the value of the contract they negotiate on behalf of players. Very often, this fee is capped. For example, in the NFL (National Football League) and UFL (United Football League), these fees are capped at 3%, which means agent commissions cannot exceed 3% of the total negotiated contract value. .

You can still ask to pay the agent an hourly rate, if you agree. It has been said that Ray Allen, now of the Boston Celtics (NBA), saved more than $2.8 million by paying Johnny Cochran $500 an hour instead of paying a 4% commission in 1999 when he was negotiating his own contract with the Milwaukee Bucks. .

Regarding sports training, who do you work with? Who have you groomed for the Combine in the past? Who pays for my training?

Today, sports agent companies often foot the bill for professional and blended prep training for secure draft picks. Some athletes choose to stay in school and train for these events, while others prefer to go to a remote location to train.

It is important to make sure that you and your potential representatives clearly understand where you are training, who is training you, and how much it will cost, as well as whether any related fees are your own financial responsibility.

Your career is at stake, so it is vital that you investigate the experience and trajectory of the entity in which you will train.

What kind of financial services do you offer? Do you receive any referral fees from the financial advisor you recommend? Can I use my own financial planner or accountant?

Sports agent firms sometimes receive kickbacks or kickbacks for referring clients to specific financial advisors. Obviously, this practice should raise concerns as to whether or not the agency is referring that financial advisor due to their performance and quality of services.

Ask if they recommend a financial advisor. If they do, check their background. If you discover any red flags, raise your concerns with the agency or agent to see what they say. Sports agent firms that recommend financial advisors with questionable records should not necessarily be disqualified from consideration, as they are (or should be) two separate entities. It is also possible that they did not know about the breaches or that there is a good explanation behind what you found, unless it is criminal activity.

When interviewing potential financial advisors, find out what they think of you by using risk managers to assess the level of risk involved with your recommended investments. If their best interest is their true concern, they should have no problem with having their recommendations reviewed by a third party. Financial advisors representing NFL players must register with the NFLPA just like agents.

NOTE: Never choose a financial advisor or sports agent firm just because they recruit you a lot! Find the one that is best for YOU.

How many clients do you currently have? How do you plan to address my needs while dealing with your other clients?

The number of current clientele that sports agent firms may have varies greatly. You need to make sure that you are comfortable with the number of clients that they currently have and will have in the near future. Such information can be helpful in determining the amount of attention and time they can devote to their career.

By contrast, the larger sports agent firms have the infrastructure in place to be able to provide quality time and attention to individual clients, so be sure to ask about their firm’s structure in this regard.

If for some reason I am not drafted, how can you help me increase my chances of making a team?

Unfortunately, each year the outlook is not written as expected. There are also players who were expected to be undrafted free agents who end up going undrafted. Experienced sports agent firms will work with you to create an action plan to assess worst case scenarios.

Ask what kind of plan they would put in place to evaluate a situation where you went undrafted or ended up getting undrafted free agent offers if you expected to be drafted.

Ask if situations like this happened in the past and how they handled them.

What are your strategies regarding sponsorship deals for a player like me?

Sponsorship deals are much harder to come by today in professional soccer than in years past. The best ones are reserved for star quarterbacks, especially those who play in cities with big markets. Marketing opportunities for average players in small markets are very rare.

How much weight you give a sports agent firm’s experience with client sponsorship is up to you, however it is wise to consider how sparse they are when judging sports agent firms.

How can you help me earn additional money with other opportunities?

Although sponsorships are scarce, the opportunities are still there. The main factor in finding these opportunities is superior performance on the field, but there are other factors such as image and accessibility that will increase your chances.

The best sports agent firms have resources, whether internal or external, that help clients optimize their public appeal through community service, free public speaking opportunities, social media strategies, interviews, and other opportunities to make yourself accessible. , likable and memorable in the eyes of the public.

How can you help me prepare for life after sports, apart from good financial management? What other clients have you helped with their post-career?

Post-race assistance and guidance is a pretty standard offering with sports agent firms today. The key is whether or not you are prepared to listen and follow the guidance provided. It’s one thing to say you’ll listen and be smart with your money, but it’s another reality when you start rolling in those big checks. Just ask the 75% of former NFL players who are bankrupt within 3-5 years of leaving the NFL.

For more guidance and tips to help you become an informed and intelligent professional soccer player (at Y off the pitch, visit Get 2 The League today!

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