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How does someone become an agent? - ✔✔find a client __ people who act as sports agents. - ✔✔25000 + About __ certified agents in the 10 major sports leagues. - ✔✔4000 Number of players in the NFLPA? - ✔✔1728 Number of certified agents in the NFLPA? - ✔✔1112 What is the percent of agents who represent at least 1 player in the NFLPA? - ✔✔30% Number of players in the NBAPA? - ✔✔360 Number of certified agents in the NBAPA? - ✔✔183 Number of agents who represent at least 1 player in the NBAPA? - ✔✔<100 Number of players in the MLBPA? - ✔✔1200
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How does someone become an agent? - ✔✔find a client __ people who act as sports agents. - ✔✔25000 + About __ certified agents in the 10 major sports leagues. - ✔✔ 4000 Number of players in the NFLPA? - ✔✔ 1728 Number of certified agents in the NFLPA? - ✔✔ 1112 What is the percent of agents who represent at least 1 player in the NFLPA? - ✔✔30% Number of players in the NBAPA? - ✔✔ 360 Number of certified agents in the NBAPA? - ✔✔ 183 Number of agents who represent at least 1 player in the NBAPA? - ✔✔< Number of players in the MLBPA? - ✔✔ 1200 Number of certified agents in the MLBPA? - ✔✔ 328 Percent of agents who represent at least 1 player in the MLBPA? - ✔✔100%
What is the reason that all agents in the MLB have clients? - ✔✔you cannot become a sports agent until you have at least 1 player on the 40 man roster The number of agents is astounding, how can so many agents make a living in this business? - ✔✔they cannot Who made the conclusion regarding, "The number of agents is astounding, how can so many agents make a living in this business? The answer is, they can't" - ✔✔ed garvey What are the two questions that you need to ask yourself before becoming a sports agent? - ✔✔-how are you going to convince a player that you can do a better job than an experienced agent; - how are you going to show them that you know all of the ins and out of negotiating a contract and doing all and doing all of the other myriad things that agent does
Who were the first clients of IMG? - ✔✔arnold palmer, gary player, jack nicklaus Who is the founder of ProServ? What year? - ✔✔donald dell, 1970 Who were the first clients on ProServ? - ✔✔arthur ashe, stan smith Who were the sport agent pioneers (4)? - ✔✔bob woolf (1965), martin blackman, mike trope (1970s), leigh steinburg (1975) Factors Contributing to Agent Proliferation (3) - ✔✔players' unions, free agency, consolidation of agency firms NFLPA formed as union in 1968 Governed by the National Labor Relations Act (NLRA) Exclusive player representative What is this referring to? - ✔✔players' unions Reserve clauses Competing leagues Outside income opportunities More powerful union
Higher salaries/income What is this referring to? - ✔✔free agency Mid-90s: Consolidation begin
An agency relationship is based on a? - ✔✔specialized type of contract In order to establish an agency relationship, there must be an? What does this do? - ✔✔agreement, constitutes the contract between the parties If there is no agreement, then? - ✔✔there is no agency The agent owes his principal the __ __ of undivided loyalty, and the duty to act in good faith at __ times
Specifically sets forth those things that the agent may do for the player. What is this referring to? - ✔✔express authority Authorizes the agent to do whatever is reasonably necessary to complete the transaction the player has expressly authorized the agent to complete. What is this referring to? - ✔✔implied authority Limitations on the Agent's Authority (3)? - ✔✔contractual limitations, delegation of authority, unauthorized acts Agent to Player or Player to Agent: To obey the instruction of the player. - ✔✔agent to player Agent to Player or Player to Agent: To use reasonable care, skill, diligence and judgment in performing the duties assigned. - ✔✔agent to player Agent to Player or Player to Agent: To disclose all material facts to the player. - ✔✔agent to player Agent to Player or Player to Agent: To refrain from acting adversely to the interests of the player. - ✔✔agent to player Agent to Player or Player to Agent: To pay the agent. - ✔✔player to agent Agent to Player or Player to Agent: To reimburse reasonable and necessary expenses. - ✔✔player to agent Agent to Player or Player to Agent: To assume liability for authorized acts of the agent. - ✔✔player to agent
Duration of the Agency Relationship is determined by (8)? - ✔✔for a fixed period of time, until completion of specific acts, perpetual, revocation by player, voluntary renunciation by agent, involuntary renunciation by agent, death of player or agent, mental incapacity of player or agent "Short and slick, he wears a gold chain around his neck and a diamond ring on his pinky finger; he's armed with a stream of fast talk and a package of promises to fatten his wallet at the expense of the athlete." What is this describing? Who said this? - ✔✔stereotypical agent, leigh steinberg Typical problem areas with agents (7). - ✔✔unethical solicitation, charging excessive fees, conflicts of interest, general incompetence, income mismanagement, fraud, unauthorized practice of law An act of a legislative body which declares, commands or prohibits something. - ✔✔statute Federal Statutes are passed by the? - ✔✔us congress State Statutes are passed by the? - ✔✔state legislatures 3 athletes agent statutes. - ✔✔sports agent responsibility and trust act (SPARTA), uniform athlete agent act, state athlete agents acts When was the Sports agent responsibility & Trust Act signed into law - ✔✔9/24/ Designed primarily to protect universities, not athletes. Signed into law on September 24, 2004. - ✔✔sports agent responsibility and trust act (SPARTA) The following provision is for which act?
In 1987, __ was the next state, establishing an extensive regulatory scheme, and creating both criminal penalties and civil liability for agents. - ✔✔texas Texas replaced the __ __ with a version of the __ __ __ __ in 1999. - ✔✔original act, uniform athlete agents act Texas Athlete Agent Act, Chapter 2051? - ✔✔texas occupations code Requirements for certification for the NBPA (2)? - ✔✔apply for certification, four year college degree Requirements for certification of the NFLPA (5)? - ✔✔application and 1650 fee, undergraduate and post graduate degrees, background check, mandatory seminar attendance, pass a written examination Requirement for certification of the MLBPA (2)? - ✔✔apply for certification, represent a player on an mlb 40 man roster Contains the Agency contract between player and agent. What is this referring to? - ✔✔contractual agreement The Contractual Agreement includes the following (5): - ✔✔services agent will perform, fees and expenses, when and how the agent gets paid, term (length) of agreement, termination provision The players' unions __ contractual agreement in the professional league sports, on the other hand, individual sports contractual agreement depend on... - ✔✔regulate whatever the player & agent agree upon Who regulates the Contractual Agreements in the professional league sports? - ✔✔players union
Who regulates the Contractual Agreements in individual sports? - ✔✔whatever the player and agent agree upon Agent services (6). - ✔✔legal consultations, contract negotiation, income tax planning and preparation, financial planning and or investment advice, endorsement and other income opportunities, insurance guidance, post career development, retirement planning, estate planning, sport medicine consultations, draft preparation assistance How is the agent's fee determined (3)? - ✔✔contingent fee, hourly fee, flat fee Contingent fee (3) - ✔✔most popular, percentage of compensation under contracts, percentage above minimum salary (under CBA) When talking about contingent fee, what is the percentage of pay they can take from (5) - ✔✔salary, signing bonus, reporting bonus, roster bonus, performance incentives (no honor bonuses or collectively bargained benefits) When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the MLBPA? - ✔✔3 to 4% When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the NFLPA? - ✔✔3% When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the NBPA? - ✔✔4%