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I recently had the opportunity to speak with David Canter, chairman and ceo of DEC mgmt. Some of David’s highlights consist of negotiating a 9 yr. 135.75 million dollar deal for running back Stephen Davis. Also negotiating the largest ever NFL playing contract for a punter representing pro bowler Todd Sauerbrun. After giving a brief introduction of my background and myself I wanted to ask David more in depth questions in regards to the sports agency field.
I noticed you have Strong Safety Eric Weddle as one of your clients had did you end up recruiting him?
At the time I actually had an intern doing work for me in regards of scouting potential clients for the upcoming draft. He actually had set up a meeting with Eric and wanted me to speak with him in possible representing him. Eric had played football for BYU and was an MVP for his team the years he played there. Eric did not really get too much recognition because it was a smaller school. When I met with Eric we connected instantly and stated we would be in touch throughout the year. We basically texted for about a year and by chance we ended up being in Vegas at the same time, we had a strong connection and Eric ended up giving me a chance.
How do you separate yourself from the big firms?
First of all, I’m not trying to be those guys, that represent 50 -100 clients. I create a one-on-one personal experience for each and every player I represent. They know when they call me they deal directly with me and not some intern handling my matters.
Being a new agent what are some ways agents get a hold of college athletes?
Well, I can’t give away my secrets, but universities put on agent days where athletes can meet with agents and hear what they have to offer. Usually parents or coaches are there with them to help guide them through the process. You would need to contact the compliance department in order to be registered.
What do you feel about new agents going after 6th and 7th rounders in the NFL Draft?
My advice to any new agent is don’t, that is a sure way you will go broke. Many of them do not last in the league, so your best bet is to go for the 1st – 5th rounder’s, but remember the higher the caliber athlete the tougher the competition. But the lower round picks are just as hard to recruit as the high round picks, so aim high.
What advice do you have for somebody getting started in the field?
Be willing to work your butt off and not got paid for a couple of years. You are competing with other people that want this opportunity just as bad as you, if not more. Be willing to move because you never know what that specific opportunity may bring. More importantly remember this is a field you are passionate about and remember that as a way to carry you through the hard times.
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06 December, 2011
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With the NBA lockout finally coming to an end, and the NBA 2011 - 2012 season officially to start on Christmas Day one wonders what great NBA free agents will be available? The NBA free agency officially begins on December 9th where we might see some top players go to different teams hopefully contributing to the overall team’s success. The unique scenario about this year’s free agency market is the abundance of big men available. I have compiled my top 3 best players that can make a difference for any team and make a push deep into the playoffs.
1. MARC GASOL
Center, 26 years old, 7'1
2011 stats: 11.7 points, 7 rebounds, 1.7 blocks in 32 minutes per game
The younger brother of Lakers star Paul Gasol isn't a big scorer -- his career-high for points in a game is 30. He's also not the incredible rebounder you'd think he'd be, given his size: he's an average rebounder at center, and a bit above average at power forward. On offense, he sets brilliant screens, can pass well and has a decent mid-range jumper. His overall value is on defense, which he is great at shot blocking and does not foul too much. He would be a great addition to any team especially needing a center coming off the bench.
2. TYSON CHANDLER
Center, 29 years old, 7'1
2011 stats: 10.1 points, 9.4 rebounds, 1.1 blocks in 28 minutes per game
Chandler is the best defender at center in the league next to Dwight Howard. He is a huge reason why the Dallas Mavericks won the 2011 NBA Championship. He is offense is strictly near the basket and does not really create his own shots. He is really good around the basket and can finish with ease. He might score a lot if you do not create for him but his defense makes up for it. Giving the circumstance somebody you definitely want to pick up.
3. NENE
Center, 29 years old, 6'11
2011 stats: 14.5 points, 7.6 rebounds, 1.0 blocks in 30 minutes per game
Overall Nene is solid on both sides of the ball he averages enough points to be a threat and does an efficient job at being a center. His defense one-on-one is phenomenal and any team would be lucky to have him. Don’t be surprise if you seem him in a Miami Heat’s jersey come start of the season as they try to fill their final piece to win a championship.
It will be interesting to see what happens when the dust settles and where many NBA free agents end up. Like anything adding a new player to a team can help or hinder a team. I’m just excited as any fan for the NBA season to start as we had one of the best years the past 2010-11 season.
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30 November, 2011
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With the advancement of technology and living in a world that needs their information instantly, bloggers are now becoming 21st century journalists. The days of applying to the New York Time or the San Francisco Chronicle to be a writer has passed with new innovative ways to break into this field. Recently three bloggers had sued New York City due to the fact the Police Department denied them of press credentials because they had worked for online or nontraditional news outlets were ultimately issued credentials for the sporting events. Each blogger had varied experience in the journalism all owing their own website that did some form of publication to various countries, audiences, and sports enthusiasts.
A press card simply carries two kinds of credentials: working press cards, for a “full-time employee of a news-gathering organization covering spot or breaking news on a regular basis,” and press identification cards, for journalists who are “employed by a legitimate news organization” but who do “not normally cover spot or breaking news events.”
Strike force, which is a subsidiary of MMA, has also had problems with denying reporters access and coverage for major fights. President Dana White has been refusing access to all UFC events in recent years after the writers published stories that White didn’t consider worthy of his companies PR clip file. Besides bloggers, Dana White banned ESPN and CBS sports from gaining access into the event. This in a large part of certain information that is not censored or review before being released, this ultimately can damage the publicity of the athlete or organization. It simple seems on who covers the team and how that can determine access and opportunity in the locker rooms.
Dallas Mavericks owner Mark Cuban feels that sports writers have become the equivalent of paparazzi rather than reporters. Mark Cuban also stated “The last few years have brought about a lot of change in how people publish and receive information.” Having reporters or journalists in the locker room asking questions that are not relevant to the game can be annoying for anybody. I feel by laying specific ground rules on what can or cannot be said can be a roadmap of what ethics these reporters must go by. If not the ramifications for this can be in a form of losing their press card for an extended period of time, or worse losing access to that organization completely.
References:
15 November, 2011
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As we now approach day 134 of the NBA lockout representatives for the NBA and player’s union met this past Thursday in an effort to salvage what remains of an already-shortened season. After meeting for 11 hours on Thursday and 16 hours on Wednesday both sides still were unable to produce a fair collective bargaining agreement that both would agree on. Although the NBA presented a proposal to the players of an offer they feel is fair and if approved by next week, a 72-game season would start on December 15th.
NBA Commissioner David Stern stated, “There comes a time when you have to be through negotiating and we are.” The National Basketball Players Association are still upset about being unable to narrow the gap on salary cap and luxury tax system issues that have put negotiations in a standstill, with either side willing to budge. With Derek Fisher and Billy Hunter representing the players they will go back to their collective side and present the latest offer to the union and come back with an answer come early Monday or Tuesday next week. The owners are firm on create a favorable system over the revenue split, which would allow smaller market teams to compete for a championship.
There has been threats that if the players do not take this deal, the owner’s next offer will be to drop the players’ split to only 47% from 50%, and include a NHL-style flex-cap on the table. Which the players union would not go for and might consider decertification as their only option, this would ultimately wipe out the 2011-12 season and possible if it goes to court the process could effect the following season as well. Decertification of a union means that the union would be giving up a lot of benefits and the power to collectively bargain on behalf of its members. Which this situation will then be upheld in court, which can be drawn out over a long time due to court proceedings.
I feel this is unfortunate for the fans, arena employees, businesses, and NBA players, due to the fact that collectively everyone wants a season. There is a lot of red tape that still needs to be address with the owners being difficult to deal with. I hope for everybody this gets resolved and we can enjoy professional basketball sooner than the latter.
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11 November, 2011
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I wanted to discuss today about various live-streaming websites that have been seized for copyright
infringement of sporting events. In the past year there have been numerous sites that offer a live stream
to Internet users wanting to watch their favorite sports team. For someone that wishes not to pay for
cable this is definitely a great way to watch sports or even your favorite t.v. show or movie. The
problem is the legality involved with this, due to the fact that this method of viewing is considered
pirated and illegal viewing of sporting events.
This past year prior to the Super Bowl ten popular video streaming websites were shutdown due to
copyright infringement. The argument behind this is the illegal streaming of professional sporting events
over the Internet financially hurts leagues and broadcasters who then must increase tickets prices and
pay-per-view events to compensate for their losses. I see where law enforcement partners are coming
from to protect copyrighted material but speaking from personal experience using these various sites; I
still think it is not fair. The sports industry is a multi-billion dollar industry and they are worried about
fans watching a free stream of their favorite sports team. I feel by letting fans watch the event this can
drive up revenue in other areas such as apparel, beer/alcohol, and increase popularity for that specific
team.
The government has actively been shutting down these streams during NFL Sunday, which I too have
experienced. You would be lucky nowadays to even get 5 minutes of a game before the site is shut
down, as they have been getting stricter on live streams of sporting events. Another tactic the
government is employing is asking domain names to be forfeited and users are being re-directed to a
banner stating the sites have been seized due to copyright infringement. It seems that the only option is
to either get cable or watch the game at a friend’s house or bar. Eventually a person will give in and end
up getting cable, which is directly tied to sports franchises, which ultimately will increase revenue for
these leagues.
References:
28 October, 2011
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I recently had to put together a Social Media Presentation on Tom Brady's use of social platforms. Enclosed are my thoughts, recommendations, and overall impact of implementing these new ideas. Hope you enjoy, just click on the youtube link for the video.
http://www.youtube.com/watch?v=YcYKqocHIg4
Anthony Reeser
16 October, 2011
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Interview with Kelli Masters
I was fortunate enough to interview owner/ceo Kelli Masters with Kmm sports. She is a partner at her law firm practicing business litigation and runs her own sports agency as a separate entity. Growing up she was one of the top baton twirlers where she had traveled the world to compete, which gave her a sense of athletic competition. After working in the legal field since 2000, Kelli branched out and in 2004, she registered to become a sports agent where she first represented Olympians, then eventually expanded out to baseball and the NFL. Currently Kelli’s NFL client roster consists of 3rd round draft pick of the 2010 Gerald McCoy who plays for the Tampa Bay Buccaneers. She also has other notable clients that play for the Dallas Cowboys, and Indianapolis Colts.
I spoke to Kelli on October 14th 2011, as she was wrapping up duties with her law firm.
I was curious to see how Kelli first got started in the industry and she had stated at first she never intended to become a sports agent, but knew she wanted to practice law. She had represented Olympian Guard Young where she had met through college and was able to secure endorsement deals and various public speaking appearances for him. She stated, “ I really enjoyed the inner-workings of the business aspects of sports and wanted to expand in other sports arenas”. I notice you have signed Gerald McCoy which was a top 5 draft pick in this past draft, how did you recruit him? Kelli actually met Gerald McCoy about 5 years ago at a high school church function where he was the guest speaker. Kelli had a chance to meet with the parents and gave her business card to them stating if he ever needs representation down the road call me. Gerald ended up going to Oklahoma Kelli’s alma mater where eventually Gerald’s parents gave her a call. Kelli stated it was highly competitive to sign him because she had to compete with a lot of other agencies trying to sign him. In the end it was between another firm and Kelli so to make things work, Kelli and the other sports agency partnered up to help Gerald in the draft.
Kelli went on to describe the draft as one of the most exciting and nerve racking experiences because of the anticipation, but really enjoyed seeing Gerald’s family proud of their son being picked so early in the draft. What is the NFLPA process for someone that wants to be certified to become an agent? Kelli stated you have to go to the www.nflplayers.com website where you have to register and pay the fee for the exam which is offered once a year in Washington D.C. The deadline runs from January 1st to January 31st the fee runs around $1300, once you pass the exam you have to take out liability insurance which varies from state to state in price, and pay another additional fee to represent athletes in a particular state. Kelli really stressed that starting out especially on your own can get really expensive. A perfect example of this would be when you sign a player they need additional training before entering the NFL combine which can cost upwards from $15,000 to $20,000 and hopefully if they make an active roster you might break even.
Kelli it seems like the business can be very tough and challenging to break in especially if you do not have the financial means or support, knowing what you know now, what advice can you give someone looking to get into this field? Your best bet would simply be getting an internship with a team, union, or a sports agency. That way you can see first hand behind the scenes what really takes place as a business point of view, ideally if you can get hired by a sports agency which will back you in recruiting players even better.
After speaking with Kelli I found out invaluable information about the sports industry world where sometimes you have to partner up with another firm just for a deal to work. More importantly the challenges one must face when going into this line of work. Kelli told me that this is not an overnight business endeavor, but takes years of hard-work, patience, and consistent dedication in order for it to work. For Kelli she stressed that in the end it was well worth it because of her passion in the field and how far her company has come. Having this opportunity to speak with Kelli was an eye-opener on what kind of financing, challenges, and paperwork you must do in order to licensed by the NFLPA. More importantly being strategic about starting off in the field. Kelli brought up a good point on being able to identify talent because you do not want to waste money on a client that never gets drafted or signed onto a team. It can be a very expensive lesson which especially starting out you have to be extra careful. I’m glad I’m doing extensive research into this field because I now have a basis of the costs, roadblocks, and challenges I have to face just getting started in the field.
14 October, 2011
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After reading the following article “Sports Still Draw Fans Despite Recession” I was not surprised especially in the South that despite a bad economy fans were still attending games of their favorite college or professional team and still doing well financially. Bigger well know colleges such as LSU, Alabama, and Florida have a huge following from always being in the hunt for a national championship. Over the years they have created fan loyalty that despite tough times, fans make it a priority to attend or watch games. A major sporting event for many people is a release from everyday life and a way to bond with friends and loved ones. Being able to have a beer, yell at a your favorite team, hi-five your buddy during the game is a definite stress reliever for most.
Unfortunately for the not as popular teams or teams that struggle to win across the spectrum of sports, are struggling to generate revenue in many different ways. Thus resulting in poor attendance at games, job layoffs, and in some cases shutting down of the whole league, such as the Arena Football League. Even Nascar and Major League Baseball have felt the effects of the economy and have to figure out creative ways to keep the fans coming back. Being an owner or investor of a team can be a headache due to the large overhead to pay for the stadium, players, concessions, etc. But by strategically thinking outside of the box even unknown losing teams can sustain the recession and bring fans to watch the game.
One concept teams can incorporate would be the use of specialty discount websites such as Group on. Consumers are cutting back more than ever and are conservative on what and how they spend their money. By create a partnership with these vendors, fans can still get tickets for a discounted price which in result they will feel they are getting a deal to attend the event. Most of the time it is getting the fans inside the stadium where they end-up spending more money on memorabilia and concessions. By strategically offering this limited deal will drive business to arenas and stadium thus resulting in additional revenue.
Another concept would be to offer additional extra curricular activities outside of the sporting event. Maybe build a mini entertainment center in the arena where people can go to eat at a restaurant, watch a movie, or even go dancing. This will generate more revenue and put in the consumers mind, hey we cannot also watch a sporting event here but also catch a movie and some dinner. By marketing subconsciously to the consumer that this specific arena or stadium is a place to go for all our entertainment needs will not also spread the word but make it a regular destination.
Lastly another option is seek additional help in advertising and marketing by hiring a new consulting agency. Sometimes fresh, innovative ideas can kick start revenue streams, due to the fact that fans have not seen that type of promotion, sponsorship, or event. Arena Advertising expresses there is never an idea too old or that has not been tried before, sometimes it comes down to understand the market and thinking out of the box. Which with the economy nowadays, one must be strategic in order to fill the seats in the stadiums and arenas. According to NCAA.org you have to convince the public that the product being promoted is a commodity that they either want or need. One must be able to understand key trends, interest of the audience, and opportunities to bring back fans, alums, and students.
Even though the economy is not as good as it has been in the past decade, people our passionate about sports and dedicated to their favorite teams whether college or the pros. It is getting them to come back on a consistent basis even though the team is not doing as well is the hard-part. But by offering various incentives, deals, and specials will entice even the hardest critiques. Ultimately it is creating that special experience for that person in attendance that will want to come back for more.
http://www.youtube.com/watch?v=UKOEZ1LlSlo
Resources:
08 October, 2011
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With the addition of enormous national TV contracts and a huge spike in NFL popularity, league revenue last year was about $8.5 billion; one of the biggest stories in the past decade has to be the growth of the NFL.
From going to your local sports bar on Sunday, to watch your favorite team, in your brand new jersey you bought to show your team support one can’t help but notice the popularity of the NFL in recent years. It has become a part of everyday culture as fans talk about how well their team faired at work, joining fantasy football leagues, and more importantly religiously watch almost all of the games scheduled, regardless if there team is playing or not. The NFL has become more popular year after year Nielsen reported “last year the average viewership of SB XLIV was 106.5 million viewers, which surpassed the series finale of M*A*S*H as the most watched telecast of all time” Whether it is we identify ourselves with a team, or use it as an outlet to bond with friends and family everyone is constantly looking towards Sunday as an escape. With the addition of social media, and the advancement of technology on how easy it has become to watch football, the growth of the NFL will continue to grow.
Business has been very lucrative for the NFL consistently, that commissioner Roger Goodell wants the league to reach $25 billion in revenue by 2027, which basically mean $1 billion in additionally revenue would have to happen each year to reach that milestone. With numerous teams and individuals breaking NFL records it will only add to the excitement the NFL provides for its fans. More importantly with a cast of heroes, villains, controversy, media, and intriguing storylines, I would say the NFL has a great shot on achieving that goal.
*Enclosed is a link that highlights other key moments this past decade in sports Watch this CNBC video, “The Biggest Plays in Sports Business”: http://www.cnbc.com/id/15840232?video=1368367744
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26 September, 2011
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I recently had the chance to speak with Alex Snowden (CEO/Owner) of Hitz Sports Management in regards to getting an internship in the sports agency field and the future of sports recruiting. I wanted to focus the interview on objective criteria, separating the people from the problem and mutual benefit.
Alex how did you get started in the industry?
I first interned at a small boutique firm called 4th and 1 sports management where I was able to learn the business from recruiting, contract negotiations, and endorsements. After I felt I had a grasp and understanding of the business I decided to open up my own firm.
What changes have you seen in the past few years?
One of the bigger sports agency firms IMG started IMG academies in Florida, which is a huge drawing pool for a lot of young professional athletes to come out of. Essentially IMG academy recruits kids at young age and help develop their skills, so when the kids are older, IMG has the first opportunity to recruit them. Which is unfair and unethical but it is hard to compete with bigger firms that have deep pockets and can get away with stuff like that. Another big change within the industry is social media and how agents use it to scout, recruit, market, and retain clients.
How do you recruit players?
First of all you need to live in an area where there is a variety of university within driving distance. Building relationships with scouts and coaches help tremendously because they can refer you athletes that might need representation. More importantly meeting with the player and the family is the best way to ultimately recruit.
What advice can you give somebody trying to break into the industry?
The best way to get started in the field would be an internship with a reputable company. One should look at their website, players represented and services they provide to make a sound decision. More importantly one has to be willing to relocate if this is something that they really want to do. Knowing how to think out of the box and being tech savvy goes a long way too when firms are deciding who they want to hire. Lastly have a passion for this line of work and work really hard.
Resources:
www.sportsagentblog.com
06 September, 2011
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This past Friday FIBA announced it would allow NBA players under contract to play in its various leagues during the lockout, only if the deals they sign come with opt out clauses. Meaning when the league and players come to an agreement they would have to return to the states and play for their teams.
Playing overseas has become a viable option for many players due to the lockout and many big name stars are considering playing to keep in shape and enjoy the game they love. Some names such as Kevin Durant, Carmelo Anthony and Dwight Howard have mulled over the idea. This past Monday the NBA took legal action on the players filing two claims for being uncooperative in negotiations for a new collective bargaining agreement and making threats to dissolve the union. A similar situation happened with the NFL in regards to the decertification of the union this year. Both sides have to want to work together collective in order for these issues to be resolved.
The team owners want significant changes to the league’s salary structure where owners can recoup some of the losses they have occurred in the past years. Owners are claiming they have lost roughly $300 million last season alone. Players are at a standstill because owners want to reduce salaries and contract lengths for the players.
For this to be resolved owners and players have to understand in order for the league to start operating again there has to be compromise. If we can get a deal that is fair for the both sides where it makes sense, I believe the league will start again in late October. If not get ready for a shortened season much like the last lockout in 98-99, which it took nearly 5 years to regain a sold fan base again.
References:
www.nba.com
www.espn.com
02 August, 2011
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I wanted to write and comment on an article I came across involving an interview with Sports Agents. To the outside world being a sports agent seems like a glamorous job with riches and notoriety. But the truth is to get there takes patience, resilience, and determination for the long haul.
The interview I read was with Jack Bechta who is an NFLPA certified advisor who has over 20 years of negotiating deals for NFL players. Jack is the CEO of JB Sports and has negotiated over 200 contracts. In the interview Jack stressed how client stealing is normal among NFL agents, especially when a great player is considering the free agent market. This can be challenging for smaller firms because they might not have all the resources to convince the player to stay with the firm. The NFL should have some kind of clause that would give a timetable or stipulation in the player and agent contract that would not allow them to leave suddenly.
Jack stated it took him about 5 years to become a full-time agent and you would need about $100k to get started. This alone shows that if someone is trying to get in the business they have to be in it for the long haul in order to see results. There is a lot to learn about the profession from the collective bargaining agreement, contract clauses, and effective recruiting. It takes time for one to build their client roster and build a name for your company and brand.
For anyone trying to get in the sports industry world, or any other field I would say the most important component is be passionate about what you do and believe in. You should ask yourself if I could work for free what do I see myself doing? Hopefully this posting gave a better understanding and insight on Athlete Representation.
References:
www.sportsagentblog.com
www.nationalfootballpost.com
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Analysis of John Wooden on True Success Speech
John Wooden one of the Greatest Coaches in college history talks about success and urges us all to pursue the best in ourselves. In this motivational speech John revisits wisdom his father told him, and advice he gave his basketball team at UCLA.
I notice from the beginning of the speech that John Wooden spoke from the heart and was very sincere in what he believed in. One of his quotes “Do the best that you are capable of, which is defined as success”. This really inspired the audience as well as myself because nowadays people tend to give themselves a hard time when something does not go right. People in general feel that if they do not win or succeed that the whole thing was a failure, which is quite the opposite. He stressed the importance of being patient and having faith in whatever you do. One of the most inspirational quotes he stated was “Things will work out as they should, as long as we do what we should”. This really touched home with me, because many times a person can doubt what they are doing and look at the scenario as a setback, but knowing there is a reason behind it all. We in society have to understand that the journey is better than the end because it’s the relationships we built, the memories, along the way, and how we ended up there.
John Wooden did not really go into any significant events or a time when he overcame adversity but rather focused on what true success really is and not from a definition standpoint. The speech gave me a deeper understanding of how great a teacher, mentor, and coach John Wooden is. More importantly the true meaning of success is sometimes in front of us and we don’t even know it. This speech really gave me a better understanding of life and the importance of collaborating and striving for a deeper purpose.
References
http://www.ted.com/talks/lang/eng/john_wooden_on_the_difference_between_winning_and_success.html
19 July, 2011
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You may have seen the commercials or highlights of the event just put on. Usually it is a few NBA athletes, coaches, and league employees that donate their time to give back to the community by being a part of the NBA Cares Program. NBA Cares is a global community outreach that focuses on educating kids, youth and family development, and being active. The NBA and its teams assist with various programs, partners, and initiatives that help children and family globally. Since October 2005 when the program was launched the program has raised 160 million dollars, provided 1.7 million hours of community service, and have built 610 places where families and kids live globally.
NBA teams have plenty of opportunity to give back to their community through these various programs. Some of the programs they offer are NBA/WNBA fit, which focuses on physical activity and healthy living through various events and programs. Another event is NBA’s Read to Achieve program which helps kids develop their reading skills and explain the importance of reading. Lastly another program is Basketball without Borders, which is a program that uses the sport to create positive social change in the areas of education, health, and wellness.
Many NBA Cares has community partners to assist with the positive impact in their areas to assist with these various ventures. Some companies such as the UNICEF, YMCA, American Red Cross, and The Boys and Girls Clubs of America do their part to assure success across the board.
Many of these programs that are being conducted are a great way to not also give back to the community, but a great way to network as well. By being a part of that specific philanthropy it can be a great way to meet with people in the field you may want to work with someday. Due to the fact they see you in a different light and not as someone looking for an opportunity or handout, it will give you an edge. Usually people that are involved in various events such as these, give themselves great opportunities to meet individuals that can have the final say on a specific position with the company. These programs are very important to the industry because it gives you another avenue to network into that field by helping out in the community. In a way it is very positive because if nothing becomes of that specific opportunity at least you made somebodies day brighter.
References:
www.nba.com
References:
www.nba.com
18 July, 2011
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After coming across various sites that offered this service to professional athletes and entertainers, I wanted to comment on this specific topic. Imagine your contract just expired with your current team, not sure about where the team is headed or unsatisfied with the city you live, change is inevitable. You contact your agent and tell them you want to play for a different team and relocate. Weeks go by and eventually you finally sign a contract to play with a new team and move to a new city. But there are more backend details involved. Such as who handles selling your current house, where will you live now, transportation, etc.
There are various concierge services that handle these various tasks while dealing with a specific clientele. Some of the services they include are home transactions, financing, credit repair, legal services, automotive, vacation rentals, vehicle transport services, and private jet services. Seems like these companies offer a complete package from A – Z on services you may need when relocating. Seems like these companies got every aspect covered, but is best to definitely do your research as it seems some of the companies are represented by realtors using an angle to represent professional athletes. Granted they may know the area for housing but when covering other aspects of your initial move one should proceed with caution.
A way to protect you is find out the facts about the company. How long have they been in business? Who have they really helped? What experience do they truly have in regards to dealing with legal services? These are just some of the questions and scenarios one must consider before using these companies. Even though the website may look professional do your homework and see what truly they can offer you and how much they charge. Only then will get you a sense of what you are paying for is really worth it.
References:
www.relosport.com
14 June, 2011
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So you finally made it and signed with a professional team. They liked your potential, talent, and the organization feels like you can help there team win games. Now is the hard part, learning how to budget your new found wealth! Seems like the money is a lot and will not run out. But eventually the big checks will stop coming in, so knowing how to budget long term will put you in a better position down the road. A high percentage of professional athletes file for bankruptcy only after a few years of finishing their professional career. According to Sports Illustrated 78% of NFL players go bankrupt or are under financial stress within 2 years because of joblessness or divorce. By following a couple guidelines and careful planning that will not be the case.
1st Contract
When you and your agent worked out a deal with your new team, you want to consult a CPA as soon as possible. They can go over various project managing that you will have to consider with your money. Such as tax withholding on game checks and player bonuses. Deductible expenses like moving expenses, training fees, and agent fees. Most importantly tax planning for any endorsements.
New City
Upon signing with a new team you will probably will be living in a city you are unfamilar with. Even though you may consider buying a house at first. The first year I would recommend renting a townhome with a fellow teammate preferable a rookie as well. You may never know what may happen early in the season also you want to learn the area and see if this is somewhere you want to purchase a home. That way you keep your financial obligations low and can put the money away for a rainy day.
Budget and Financial Planning
Whether you are a first round pick or undrafted player that barely made the team, whatever money you get make sure to create a budget. This will help you with your monthly expenses as well in the off-season. You have a limited amount of time usually players last in the nfl and nba an average of 4 - 6 years to make a significant income. By planning financially down the road to set yourself up for retirement can determine what kind of lifestyle you will have after you retire from professional sports.
By having a clear understanding of your finances it can help down the road if you would like to explore business ventures, investing, or building a portfolio. These are just some of the key factors an athlete must be aware of when starting his or her career. "The art is not in making money, but in keeping it" - Anonymous
Resources
www.sportsagentblog.com
www.ncompassfin.com
www.sportsillustrated.com
01 June, 2011
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One of the biggest concerns to date is the lending practices of NFL players in need, or with a strong desire, to take out loans. These loans typically have terrible interest rates attached to them, which players will be complaining about for years to come. Some interest rates exceed 20% of the loan amount. Some NFL players are turning to high-risk loans to make ends meet.
Another reason players are borrowing now — before even missing a major payday — is that they may be afraid credit will dry up if the lockout continues into the NFL season, said Darren Heitner, an agent and the author of sportsagentblog.com. After all, if interest rates are this high now, what will they be like when players start to miss game checks and lenders know they are even less likely to be repaid?
It is said to see this happen to professional athletes especially the amount of money they first start to make when they get in the league. Not having a good sense on how to budget their finances and being able to save for a rainy day is putting a strain on many football players and their families. Hopefully both sides can come to an agreement and the athletes can just focus on what they do best. Play the game...
Resources
www.prioritysports.com
www.suresportslending.com
www.agrsportsfunding.com
www.sportsagentblog.com
19 May, 2011
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With the NBA Playoffs in full swing the playoffs have been nothing but entertaining for fans. The Miami Heat eliminated the Boston Celtics in the Eastern Conference Finals 4 - 1 in the series. The Chicago Bulls on Thursday night finished off the Atlanta Hawks 4 - 2 in the series to set up an Eastern Conference Finals between the 2 teams. During the regular season the Bulls beat Miami sweeping them 3 - 0. But we all know in the playoffs the landscaping of the game changes dramatically. Twelve of 14 ESPN Experts picked Miami to win the series. Miami having 2 of the 5 best players in Dwayne Wade and Lebron James who can argue that pick. Both teams have very contrasting styles which should make it an interesting series.
Four Key Factors to determine the winner of the Series:
1. Will Derrick Rose play to his MVP Status?
Derrick Rose has a huge advantage over the Miami Heat point guards, how much of a factor will this be down the stretch. Will D Wade have to guard him thus canceling each other out? Both are too good not to make an impact in the game.
2. How the Big 3 will play?
We all know on any given night the big 3 can put up 80+ points on a team but can they be consistent against a defensive-minded Chicago Bulls team. Will Chris Bosh step up and help Lebron and D Wade? If not consider it a drawn out series.
3. Role Players
Chicago has a much more deeper and consistent bench would should provide a help against Miami. Miami is still trying to find there x-factor off the bench which can help impact the series tremendously. Miami's bench has been playing better lately which should help relieve the pressure off the big three.
4. Coaching
The Chicago's coach Tom Thibodeau did an excellent job this year preparing his team for each game winning him the Coach of the Year award. But will he muster something up to get past the Miami Heat? Erik Spoelstra Miami Heat's head coach learned from the best in the business Pat Riley, which he will have his team well prepared. This can be a deciding factor on which team wins the close games.
Overall I see an exciting series between the two teams. According to NBA.com they stress how the bulls only have one superstar but Miami with two. The Heat have another option come crunch time where playoff games are won. At the end Miami proves to be too much for the Bulls, I see Miami winning the series in Six.
Resources:
www.nba.com
www.espn.com
www.miamiheat.com
13 May, 2011
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The main responsibility for a sports agent is to negotiate a contract for the players the agent represents. It is vital for the sports agent to understand the market for players in the sport or sports involved. The agent needs to have an understanding of what the players are worth.
Maybe a player prefers playing in a certain city or perhaps a player finds a contract with lucrative bonuses to be an attractive motivator.
03 May, 2011
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