Professional Services Guide

Generally, sports agents can act as business managers for athletes handling contract negotiations, public relations issues, and finances. Some states require agents to be registered in the state they are working in, while other states have no such requirements. Agents also help to secure additional sources of income for the athlete, such as endorsements, speaking engagements and other NIL deals. Many agents, especially those working with young athletes, provide career guidance and advice. Agents may work independently or as part of a large sports agency depending on their specialty and clients needs.

Athletes face some of the same financial challenges that the average person faces, for example, not saving and investing properly for taxes, being tempted to overspend, and wanting to help struggling friends and family. Most college athletes will earn limited income through NIL agreements and may be able to make a plan for taxes and savings on their own. However, it is always good to periodically consult with a financial expert to ensure you have a solid financial strategy.

Determining which professionals to work with is tricky for athletes—not only because of contracts, budgets, accountant services, and tax planning, but because they are bombarded by slick-talking salespeople which can make identifying knowledgeable advisors with their best interests at heart difficult. If needed, you should look for a fee-only professional such as a certified financial planner (CFP) who has experience working with other athletes and who always serves as a fiduciary. A personalized financial plan takes into account all aspects of your financial life and can offer guidance, clarity of thought, and expertise to help you gain confidence in a more secure financial future.

Managers can be anyone an athlete trusts to manage their business. In many cases, managers are family members or friends. Managers work with athletes to handle the day-to-day aspects of their career, including scheduling, fielding calls, making sure you meet deadlines, and fulfilling promised deliverables. Managers help hire and manage any staff or professional service providers for an athlete. Additionally, they handle public appearances, interviews, and social media. Managers can provide advice on legal and financial issues, but should ensure athletes receive professional guidance whenever it is needed.

Your brand is how people will identify you. Branding agencies create the face of your brand based on your values and strengths. A branding agency allows you to gain a competitive advantage, define a coherent brand communication strategy, and to reach the target market and expand it. Effective branding means putting forth an image of you that ties your brand’s personality throughout all aspects of the user experience. Branding agencies will help provide a strategy to grow your brand and provide you with the right toolkit to embed your brand purpose, values, promises, positioning, and identity.

In the business of collegiate athletics, name, image and likeness can be an athlete’s most valuable asset. Sports attorneys are generally more familiar with issues affecting athletes and should have a deeper understanding of state laws, collegiate policies and NIL agreements. Be it a contract with a sponsor, a car dealership, a camp, or even a marketing company, a sports attorney helps an athlete create contracts that are in the athlete’s best interest.

Sports Attorneys can handle the full spectrum of contracts:

• Marketing, promotions, privacy, sponsorship, domain name, social media, and other intellectual property matters.

• Brand protection for athlete in all of their personal, professional, and charitable endeavors, including endorsement, domain name, social media, trademark, corporate, trust and estates, tax, charitable foundation, and litigation matters.

The intellectual property that forms the value for athletes – name, image and likeness – are just beginning to reveal their potential for monetization. A forward-looking contract that protects the rights of the athlete and provides fair compensation is what a good sports attorney can secure.

Full-service marketing offers everything your business requires for marketing, promotions, and advertising under one umbrella. An agency consists of a group of skilled individuals specialized in different areas of marketing. The agency offers comprehensive strategies and solutions custom-fit to your business from start to finish. Services can be a la carte or bundled depending on your objectives. Marketing services can include other services such as branding and social media services. Determine your goals and then select an agency if there is a good fit and it helps you achieve your goals.