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... Furthermore, the reputations of the colleges that these student-athletes attend suffer from the negative national publicity that occurs when student-athletes lose their NCAA eligibility by contracting with sports agents. In addition to their involvement in intercollegiate athletics, sports agents have also not always acted in the athlete's best interests in the area of professional athletics. Many professional athletes have lost thousands of dollars because of improper financial investments and advice made by their sports agents. Many sports agents' inadequate qualifications have led to their failure to act in the best interest of athletes, by causing many intercollegiate careers to end and by improperly managing a professional athlete's financial affairs. When a sports agent agrees to represent an athlete, the sports agent becomes the athlete's career planner.
Thus, the athlete places his economic potential in the hands of his sports agent. Moreover, when a sports agent holds himself out as a career planner, the agent is indicating that he / she possesses expertise in the area of athlete representation. Sports agents, therefore, owe the athletes they represent both a fiduciary duty to possess the necessary skill and diligence to adequately represent the athlete. Many sports agents, however, breach these duties because they have not had the proper training to adequately represent athletes. For example, sports agents are not required to have any type of educational degree or any minimum level of training, skill, or knowledge in the fundamental areas of athlete representation such as contract drafting and negotiating, financial planning, and collective bargaining agreements. Although the various professional players' associations, the NCAA, and a number of state statutes have all attempted to address the problems surrounding sport agent abuses, the professional players' associations and many states will certify, license, or register sports agents who are not necessarily knowledgeable or qualified to represent athletes.
Consequently, athletes cannot be assured that they are being represented by competent and trustworthy agents. Although the number of sports agents who fail to act in the athlete's best interests has increased, causing many athletes not to employ them, a sports agent can prove beneficial to an A sports agent can help an athlete's performance by obtaining a fair and reasonable salary for him from a professional sports team. Additionally, a sports agent can help an athlete take full advantage of endorsements and public appearances, as well as set up tax, financial, and investment plans. Moreover, sports agents and athletes often become valued In an attempt to preserve these benefits and deal with sports agents who fail to act in the best interest of the athletes they represent, a number of agencies within the sports field have set up regulations to govern sports agents. The National Football League Players Association (NFLPA), the National Basketball Players Association (NBPA), and the Major League Baseball Players Association (MLBPA) have all implemented guidelines and regulations that govern a sports agent's representation of professional athletes. Additionally, the NCAA has established guidelines and regulations that govern the involvement of sports agents in the field of amateur sports.
Many state legislatures have also passed legislation that regulates sports agent's activities at both the professional and amateur levels. While these various organizations and state legislatures have recognized the need for regulating sports agents and have attempted to remedy the situation, the remedies that they pose are simply inadequate. Nevertheless, these attempted remedies illustrate the problems involved in regulating sports agents and help provide an understanding of the steps needed to control these problems. Although there is heated competition to represent professional athletes, there is only a small number of agents representing the majority of players. In light of these numbers and with relatively few players in the potential client pool, the competition to represent players is vigorous and at times unprincipled. Often an agent will need a substantial number of professional athlete clients in order to achieve financial stability or success.
Job security is not a certainty in this field of study. Sports law will undergo fascinating and interesting changes in the years to come. Professional sports are undergoing a transformation, as the nature and economics of the games change. The outcome of this conversion is unclear. It is unclear how profitable professional sports are in current economic conditions. The recent NFL antitrust cases described a multi-million dollar salary payment to one owner and significantly underestimated profitability for some teams.
However, the evidence also shows that a number of franchises are losing money based on reasonable accounting evaluations. In contrast, the recent sales of the Baltimore and San Francisco baseball teams, the record breaking sale of the Philadelphia Eagles and the competition for new franchises despite their cost, reflect significant value of sports franchises. Players and agents should concern themselves with recent trends and events in the professional sports industry. For example, the enormous increase in salaries, free agency, labor stoppages, and the rapidly emerging limits on TV revenues, ticket prices, sky boxes and other revenue constitute significant considerations for players and their agents. Additionally, teams from small cities have made extensive use of deferred compensation as a means of competing with the salaries offered by teams in larger cities. The amount of deferred compensation combined with the financial difficulties of some teams has reached significant heights.
Correspondingly, a player's representative must consider seeking the personal guarantees of financially responsible owners and the use of escrow for the player- client's full compensation when representing blue chip players and outstanding coaches. My personal opinion is that sports agents have gotten a bum wrap. Sure they maneuver their way to get what contracts they want, but that is their job. The agent is only following and protecting the players wishes. Why should the public complain about Why do I want to become a sports agent?
My first reason is that sports have been my life. I do not currently have the skills to play a professional sport. However, I do obtain a strong business since and I am very strong at negotiations. My second reason is, it is every young boys dream to meet sporting legends. Being a sports agent, I live that fantasy. My third reason, the average minimum pay for a sports agent is between $ 150, 000 to $ 200, 000.
Some agents make even more than that. I do believe I can live off Bibliography: Bibliography Appenzell er, Herb. Sports and the courts. Charlottesville, VA: Michie, c 1980.
Champion, Walter T. Fundamentals of sports law. Rochester, NY: Clark Boardman Callaghan, c 1990 - Greenberg, Martin J. Sports law practice.
Charlottesville, VA: Michie, c 1992 web 1 /garb arin. htm#II what Law of professional and amateur sports. New York, NY: C. Boardman, c 1988 - (Loose leaf) Di geronimo, Theresa F. Robert Rules: Success Secrets from Americas Most Trusted Sports Agent.
September 1998. Schubert, George W. Sports law. St. Paul, MN: West, c 1986. RESERVE Sports and law, contemporary issues.
Charlottesville, VA: Michie, c 1985. The Sports lawyers journal. v. 1, no. 1 (Spring 1994) - Racine, WI: Sports Lawyers Association. Uberstine, Gary A. Covering all the bases, a comprehensive research guide to sports law. Buffalo, NY: Wm.
S. Hein, c 1985.
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