Sports Law CORRECT QUESTIONS &
ANSWERS(RATED A+)
What is a Sports Agent? - ANSWERA sports agent is an individual whom procures
and
negotiates employment and endorsement contracts for
an athlete.
Sports Agent Responsibilities (4) - ANSWER1) Be the ultimate protector of their
client
2) Represent client's interests zealously
3) Negotiate athletes employment contract with team
4) Communicates with team owners, managers,
coaches and other individuals/companies
Perception of Sports Agents - ANSWER• Sleazy
• Unscrupulous
• Morally Reprehensible
Sport Agent Roles & Duties (7) - ANSWER1) Fiduciary Responsibility
2) Duty of Good Faith
3) Duty to Discover & Disclose
4) Duty of Loyalty
5) Duty of Accounting
6) Duty of Care
7) Duty of Confidentiality
Sports Agent Regulations - ANSWER• Limited regulations controlling agents' actions
• College-level agent regulations ONLY place duties on
sports agents when they are either recruiting or
signing student-athletes
- Key, because it limits what's a violation. While that regulation is in place on agents,
reg. on student athletes is more stringent. In place to place protect athletes, but they
get the brunt of it (get penalized)
NCAA & Student-Athlete Eligibility - ANSWER• Player who violates an NCAA Bylaw
through his/her
conduct with an agent can lose their eligibility,
scholarships and may not earn their degree
• Only apply to conduct of student-athletes and
schools but not the agents luring them
Fiduciary Responsibility - ANSWERThis responsibility results from the manifestation
of
consent by an athlete to an agent that the agent will
act on the athlete's behalf and be subject to athlete's
, control
Duty of Good Faith - ANSWERMust keep best interest of client in mind at all times
during the representation process
Duty to Discover & Disclose - ANSWER• Inform clients as to all material information
that is
reasonably obtainable
• Discuss terms with a client about an agreement
• Communicate with athlete about an endorsement or
sponsorship opportunities before making any
commitments or promises
Essentially, always be in touch with the athlete. You can't make deals without your
clients' approval, despite your own better knowledge.
Duty of Loyalty - ANSWERDuty to avoid all actual and potential conflicts of
interest
Duty of Accounting - ANSWER• Must inform client of "all facts that come to his/her
knowledge that are or may be material or which
might affect client's rights or interests or influence
the action client takes"
- Essentially, constantly running all ideas, opportunities, offers through client.
• Must account for all funds handled on behalf of client
Sport Agent Styles: Ron Shapiro - ANSWERStyle: Nice without Being Soft
• Never went into negotiations looking for war—didn't
want to burn bridges
• Saw the benefit of building long-lasting relationships
and helping both sides achieve what they wanted
Sport Agent Styles: Drew Rosenhaus - ANSWERStyle: Aggressive/Take No
Prisoners
• Terms that have been used to describe him: Swarmy,
arrogant, deceitful, a cancer, a low-life
• Aggressively represents clients
• A self-named shark
History of Sports Agents - ANSWER• Negotiations conducted without agents
• Owners/Management of sports teams enjoyed the upper
ANSWERS(RATED A+)
What is a Sports Agent? - ANSWERA sports agent is an individual whom procures
and
negotiates employment and endorsement contracts for
an athlete.
Sports Agent Responsibilities (4) - ANSWER1) Be the ultimate protector of their
client
2) Represent client's interests zealously
3) Negotiate athletes employment contract with team
4) Communicates with team owners, managers,
coaches and other individuals/companies
Perception of Sports Agents - ANSWER• Sleazy
• Unscrupulous
• Morally Reprehensible
Sport Agent Roles & Duties (7) - ANSWER1) Fiduciary Responsibility
2) Duty of Good Faith
3) Duty to Discover & Disclose
4) Duty of Loyalty
5) Duty of Accounting
6) Duty of Care
7) Duty of Confidentiality
Sports Agent Regulations - ANSWER• Limited regulations controlling agents' actions
• College-level agent regulations ONLY place duties on
sports agents when they are either recruiting or
signing student-athletes
- Key, because it limits what's a violation. While that regulation is in place on agents,
reg. on student athletes is more stringent. In place to place protect athletes, but they
get the brunt of it (get penalized)
NCAA & Student-Athlete Eligibility - ANSWER• Player who violates an NCAA Bylaw
through his/her
conduct with an agent can lose their eligibility,
scholarships and may not earn their degree
• Only apply to conduct of student-athletes and
schools but not the agents luring them
Fiduciary Responsibility - ANSWERThis responsibility results from the manifestation
of
consent by an athlete to an agent that the agent will
act on the athlete's behalf and be subject to athlete's
, control
Duty of Good Faith - ANSWERMust keep best interest of client in mind at all times
during the representation process
Duty to Discover & Disclose - ANSWER• Inform clients as to all material information
that is
reasonably obtainable
• Discuss terms with a client about an agreement
• Communicate with athlete about an endorsement or
sponsorship opportunities before making any
commitments or promises
Essentially, always be in touch with the athlete. You can't make deals without your
clients' approval, despite your own better knowledge.
Duty of Loyalty - ANSWERDuty to avoid all actual and potential conflicts of
interest
Duty of Accounting - ANSWER• Must inform client of "all facts that come to his/her
knowledge that are or may be material or which
might affect client's rights or interests or influence
the action client takes"
- Essentially, constantly running all ideas, opportunities, offers through client.
• Must account for all funds handled on behalf of client
Sport Agent Styles: Ron Shapiro - ANSWERStyle: Nice without Being Soft
• Never went into negotiations looking for war—didn't
want to burn bridges
• Saw the benefit of building long-lasting relationships
and helping both sides achieve what they wanted
Sport Agent Styles: Drew Rosenhaus - ANSWERStyle: Aggressive/Take No
Prisoners
• Terms that have been used to describe him: Swarmy,
arrogant, deceitful, a cancer, a low-life
• Aggressively represents clients
• A self-named shark
History of Sports Agents - ANSWER• Negotiations conducted without agents
• Owners/Management of sports teams enjoyed the upper
