Is the agent or agency hiring 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 (NFLPA) to negotiate a player contract. The Uniform Athletic Agents Act, or UAAA, is a state law currently recognized by 40 countries (as of April 2011), as well as Washington, D.C. and the US Virgin Islands, that regulates agent recruitment procedures.
The purpose of the law is to create uniformity in the way sports agent companies recruit and communicate with potential clients. Part of the law requires that sports agents 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 specific state (if applicable). If you are already a professional athlete, prospective agent(s) do not have to register in your state.
Have you ever been disqualified, arrested or disciplined as an attorney or agent?
While bad things happen to good people sometimes, it’s good to know if the sports agent company you’re considering has been disciplined, suspended, or written off (in case they’re also attorneys). Find an attorney or agent, and feel free to ask what you’ve learned. There may be a good explanation for what happened, but it is important that you feel comfortable with them and their track record.
What are your fees? Is your fee negotiable? How and when do you pay me for your services?
Do you provide any kind of annual statements to your clients?
Sports agent companies usually bill a percentage of the value of the contract you negotiate on behalf of the players. Often a cap is set for these fees. For example, in the NFL (National Football League) and UFL (United Football League), this fee is set at 3%, which means agent commissions cannot exceed 3% of the total value of the negotiated contract.
However, you can ask to pay the agent for the hourly rate, if this is agreed upon. Ray Allen, now working for the Boston Celtics (NBA), was said to have saved himself 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. .
In terms of athletic training, who do you work with? Who are those who prepared to combine in the past? Who pays for my training?
Nowadays, athletic agent companies typically foot the bill for training on the combined, professional daily preparation of proven choices. Some athletes choose to stay in school and train for these events, while others prefer to go somewhere far away to train.
It is important to ensure that you and your potential representatives have a clear understanding of where you are training, who is training you, how much it will cost, as well as whether any related fees are your own financial responsibility.
Your career is on the line, so it is imperative that you research the experience and track record of the entity in which you will be training.
What kind of financial services do you provide? Do you receive any referral fees from the financial advisor you recommend? Can I use my own accountant or financial planner?
Sports agent companies sometimes receive commissions or commissions for referring clients to specific financial advisors. Obviously, this practice should raise concern as to whether or not the agency refers the financial advisor because of his performance and the quality of his services.
Ask if they recommend a financial advisor. If they do, find their backgrounds. If you spot any red flags, discuss your concerns with the agency or agent to see what they have to say. Sports agent firms that recommend financial advisors with questionable backgrounds should not necessarily be excluded, as they are (or should be) two separate entities. It’s also possible that they either didn’t know about the wrongdoing themselves, or there was a good explanation behind what you found, unless it was criminal activity.
When interviewing potential financial advisors, find out their perspective on hiring risk managers to assess the level of risk involved in their recommended investments. If your best interest is their real concern, they shouldn’t have a problem with a third party considering their recommendations. Financial advisors who represent NFL players must register with the NFLPA just like agents are.
Note: Never choose a financial advisor or sports agent companies just because they recruit you heavily! Find the best for you.
How many clients do you currently have? How do you plan to meet my needs while dealing with your other customers?
The number of existing clients of sports agent companies varies greatly. You need to make sure that you are comfortable with the number of clients they currently have and will have in the near future. This information can be useful in determining how much attention and time they can devote to your career.
Conversely, larger sports agent companies have the infrastructure to remain able to provide quality time and attention to individual clients, so be sure to inquire about their company structure in this regard.
If for some reason I am not recruited, how can you help me increase my chances of making a team?
Unfortunately, forecasts every year fail to formulate what was expected. There are also players who are expected to be free agents who are not registered and who end up not being selected. Experienced sports agent companies will work with you to develop an action plan to assess the worst case scenario.
Ask what kind of plan they will put in place to evaluate the situation in which you were not selected, or where you ended up getting free agent offers without drafting if you expect to be drafted.
Ask if such situations have happened in the past, and how they have dealt with them.
What are your strategies for endorsement deals for a player like me?
It is much more difficult to get endorsement deals today in professional football than it was in years past. The best ones are for midfielders, especially those who play in big market towns. Marketing opportunities for regular players in small markets are very rare.
How much weight you place on the experience of sports agent companies with customer endorsements is up to you, but it is wise to consider how rare they are when judging sports agent companies.
How can you help me make extra money from other opportunities?
Although endorsements are scarce, opportunities still exist. The main factor for finding these opportunities is outperformance on the field, but there are other factors, such as image and accessibility, that will enhance your chances.
The best sports agent companies have resources, both internal and external, that help clients improve their public appeal through community service, free public speaking opportunities, social media strategies, interviews, and other opportunities that make you accessible, personable, and memorable in the eyes of The audience.
How can you help me prepare for life after sports, in addition to good financial management? Who are the other clients you have helped in beyond their careers?
Post-career assistance and guidance is a fairly standard offering with today’s sports agent companies. The key is whether or not you are willing to listen and follow the instructions provided. One of the things to say is that you’ll listen, and be smart with your money, but it’s another fact entirely when you start getting those huge checks. Ask 75% of former NFL players who are broke within 3-5 years after leaving the NFL.
For more tips and tricks to help you become a smart, enlightened professional soccer player (at And Off the field, visit Get 2 The League today!